On 13th February, KYC 360 carried an analysis of further measures progressing through the Brussels legislative machinery to enhance the fight against money laundering, and which are labelled as the “6th Money Laundering Directive”.  In particular, the EU Commission suggests that with national differences in the definition, scope and sanctioning of money laundering offences, co-operation between national police forces is sub-optimal and are exploited.  It says that probably, the most significant element of 6AMLD is to provide a harmonised list of 22 predicate offences, including environmental crimes and cybercrimes.  Aiding, abetting and attempting to commit an offence of money laundering will also be illegal.  Offences committed by organised criminal gangs are deemed to be aggravating circumstances for the purposes of sentencing as are those offences committed by individuals in the course of their professional activities.  Corporate liability is also envisaged.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: