Proposal for a Directive of the European Parliament and of the Council on countering money laundering by criminal law
In December 2016, the Commission tabled a Proposal for a new Directive on countering money laundering by means of criminal law, pursuant to Article 83(1) TFEU. Once adopted, it shall replace 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.
As the Commission clarifies in the Explanatory Memorandum, the publication of this Proposal has been prompted by the pressing need to counter terrorism financing. The adoption of the Directive shall also align the EU legal system with the international obligations in the field (2005 Council of Europe Convention, FATF Recommendations).
Member States will thus be obliged to criminalise money laundering offences and sanction them in compliance with the thresholds provided in the text. In addition, the Proposal 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.
Reference number: COM(2016) 826 final
Issue date: 21-12-16
Official Journal: Not yet published in the Official Journal