MONEY LAUNDERING LAW
May 1st, 2005
BY KEITH NUTHALLTHE EUROPEAN Parliament looks unlikely to heed the concerns about the erosion of client confidentiality by European Union (EU) money laundering legislation, with its key civil liberties committee strengthening lawyers' duties to inform the authorities about suspicious dealings. It has proposed that a suggested third money laundering directive says any reports of suspicious transactions "should be made directly to the financial information authority" of a member state, which in the UK is currently the National Criminal Intelligence Squad (NCIS). ...
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