GERMANY’S NEW DRAFT LAW TO IMPLEMENT THE SIXTH EU AML DIRECTIVE

On 3 February, Freshfields Bruckhaus Deringer published an article saying that, just weeks after Germany finished implementing the 5^th EU AML directive (5AMLD), the Federal Ministry of Justice has drafted a bill implementing the requirements of the 6^th EU AML directive (6AMLD).  It says that ehile 5AMLD mostly aimed to increase transparency, 6AMLD lays down minimum requirements for the definition of the crime of money laundering, effectively setting an EU-wide minimum standard for Member States to combat money laundering using the criminal law.  A draft version of the new Bill has been made available, and goes far beyond the minimum standard set out in 6AMLD.  The article details the contents of the draft.

https://riskandcompliance.freshfields.com/post/102fxzm/extending-criminal-liability-for-money-laundering-germanys-new-draft-law-to-imp

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 View all posts by raytodd2017