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2019-01-27

【Wealth Succession】

MONEY LAUNDERING: EU adopts criminal enforcement directive

The European Council has formally adopted a directive requiring Member States to introduce criminal law provisions against money laundering. Directive PE-CONS 30/18 sets a four year maximum jail term for money laundering offences; enables jurisdictions to wind up or otherwise penalize legal entities for money laundering; and clarifies which Member State has jurisdiction in cross-border investigations.

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