UK RISKS FALLING OUT OF STEP WITH EU ON AML RULES POST-BREXIT
September 1st, 2018 UK companies conducting business in European Union (EU) member states could find themselves non-compliant with new EU laws on money laundering (ML) criminal liability after Brexit, unless the British government implements satisfactory equivalent national regulations. With Britain’s scheduled March departure from the EU looming, on September 12, the European Parliament approved an ML criminalisation law, known widely as the sixth anti-money laundering directive (6MLD). Under Article 7 of the directive, any company can be criminally liable in an EU ...
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