Nov 12, 2018
6th EU AML Directive
6th AMLD December 2020, Transposing June 2021: Focuses on Criminal Offences and Penalties
The EU published the 6th Directive on 12 November 2018, adding to the criminal law-related provisions of the 5th Directive as adopted by EU member states in May 2018. Amongst other provisions, a maximum term of imprisonment of four years for individuals has been introduced, in addition to further financial-oriented measures that could be imposed, such as fines and exclusion from access to public funding for legal persons.
- Money laundering offences are punishable as a criminal offence;
- Aiding and abetting, inciting and attempting an offence is punishable as a criminal offence;
- Penalties for natural persons: punishable by a maximum term of imprisonment of at least four years;
- Aggravating circumstances: i) offence committed within the framework of criminal organization, ii) offender is an obligated entity and has committed the offence in the exercise of professional activity, iii) aggravating circumstances: the laundered property is of considerable value, or, the laundered property derives from one of the aforementioned offences;
- Liability of legal persons; and
- Sanctions for legal persons.
For more information on the EU AML Directives and how they can affect you and your business, please contact us on [email protected]