MEPS APPROVE NEW EU ML CRIMINALISATION REFORMS

THE EUROPEAN Parliament has approved two new European Union (EU) anti-money laundering and terror finance laws that will promote the criminalisation of ML and better control cash flows within, into and out from the EU. MEPs approved a directive on criminalising money laundering that will force EU member states to adopt EU-wide definitions of ML-related crimes. The law will also insist that member states impose at least four years maximum sentences for ML convictions. And the law will insist convicted money launderers cannot stand for public office, be a public ...


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