Q&As

What is the EU Directive on criminalising money laundering?

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Published on LexisPSL on 11/03/2021

The following Corporate Crime Q&A provides comprehensive and up to date legal information covering:

  • What is the EU Directive on criminalising money laundering?
  • Directive on criminalising money laundering
  • Background
  • Aims
  • Impact of Brexit

What is the EU Directive on criminalising money laundering?

Directive on criminalising money laundering

On 12 November 2018, the Directive (EU) 2018/1673 of the European Parliament and of the Council of 23 October 2018 on combating money laundering by criminal law (OJ L284 12.11.2018 p 22), (EU MLD6), was published in the Official Journal of the European Union. EU Member States were required to transpose EU MLD6 into national law by 3 December 2020.

Most significantly, the EU MLD6 provides that:

‘“Member States shall take the necessary measures to ensure that legal persons can be held liable for any of the offences referred to in Article 3(1) and (5) and Article 4 committed for their benefit by any person, acting either individually or as part of an organ of the legal person and having a leading position within the legal person” […] to ensure that legal persons can be held liable where the lack of supervision or control by a person referred to in paragraph 1 of this Article has made possible the commission of any of the offences referred to in Article 3(1) and (5) and Article 4 for the benefit of that legal person by a person under its authority.’

For further analysis, see News Analysis: The UK’s anti-money laundering laws post-Brexit—will it make any difference?

Background

EU MLD6 was first proposed in 2016, see: LNB News 22/12/2016

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