EU Legislation
Council Directive 91/308/EEC of 10 June 1991 on prevention of the use of the financial system for the purpose of money laundering
This Directive represents the first stage in combating money laundering at Community level. The Directive defines the concepts of credit institution, financial institution and money laundering. In the case of money laundering, it takes over the definition given in the 1988 United Nations Convention against illicit traffic in drugs.
Member States must ensure that money laundering is...