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Today, the new measures to counter money laundering by criminal law enter into force across the EU. The new rules will ensure that dangerous criminals and terrorists face equally severe penalties for money laundering wherever they are in the EU, with a minimum term of imprisonment of 4 years.
Commissioner for Migration, Home Affairs and Citizenship Dimitris Avramopoulos said: “If we want to catch criminals and terrorists, we have to follow the money. Today, we are beefing up the EU’s response to money laundering, making sure that criminals and terrorists no longer get away with illegally gained money and face deserved justice. A Europe that protects is a Europe that effectively prevents and prosecutes criminals.”
Commissioner for the Security Union Julian King said: “Money laundering is a key tool used by terrorists and serious criminals to obtain funding – by harmonising the crime and the punishment across the EU, we can further close down the space in which they operate. Member States now need to implement the new rules without delay.”
The Commission proposed to harmonise offences and sanctions for money laundering across the EU in December 2017. While all Member States currently criminalise money laundering the definitions of this crime as well as the penalties related to it differ across the EU, allowing criminals to effectively “window shop” and exploit the differences between national legislation.
With the new rules in force that will be no longer possible. Member States now have 24 months to implement the new rules into national law and notify the Commission accordingly.
The recent changes and all AML related topics will be highlighted during Prague Gaming Summit by the attending experts of the gambling industry in a special panel discussion. You can find more details on the following page.
Source: European Gaming Media and Events