Directive of the European Parliament and of the Council on combating money laundering by criminal law

On 23 October 2018, the European Parliament and the Council adopted a Directive on combating money laundering by criminal law, pursuant to Article 83(1) TFEU. This new directive replaces the current provisions concerning the criminalisation of money laundering contained in point (b) of Article 1 and Article 2 of Framework Decision 2001/500/JHA in relation to the Member States participating in the Directive.

One of the purpose of the Directive is also to align the EU legal system with the international obligations in the field (2005 Council of Europe Convention, FATF Recommendations).

Once the Directive comes into force, the Member States willl thus be obliged to criminalise money laundering offences and sanction them in compliance with the thresholds provided in the text. In addition, the Directive lays down some rules concerning the obligation to criminalise incitement, aiding and abetting, and attempt to commit money laundering offences, the liability of legal persons and the penalties thereof, and jurisdiction.