EU REPORT SAYS GOVERNMENT SHOULD CONSIDER MORE PROPERTY SEIZURES TO PUNISH MONEY LAUNDERERS
June 8th, 2014
A EUROPEAN Commission-financed report on money laundering punishments within the European Union (EU) has called on EU governments to consider using more administrative penalties, including property seizures, to punish hiding criminal proceeds.Noting that money laundering is “visibly under-prosecuted” in the EU, it said using article 3 of the EU’s fourth money laundering directive authorising the use of non-criminal proceedings “should be further explored and developed.”The paper – researched by Thomson Reuters’ noted that “the disparity ...
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