MONEY LAUNDERING
October 1st, 2001
Keith NuthallA DEAL has been struck between the European Parliament and the EU Council of Ministers over the final shape of reforms to the European money-laundering directive, an agreement that was given political impetus by the attacks in the US and the need for improved legislation to help pinpoint terrorist-tainted funds.Indeed, the new directive would oblige Member States to combat laundering of the proceeds of all serious crime, (including fraud against the EU budget), whereas the current law applies only to money linked to drug offences.The changes also ...
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