On Oct. 11, 2018, EU CNCL adopted new rules criminalizing money laundering.
- New rules include maximum imprisonment of four years for money laundering.
- Minimum rules on the definitions of criminal offences and sanctions, provision
for sanctioning legal entities and for cross-border judicial or police cooperation. - Clarifying which MS has jurisdiction, how they must cooperate/involve Eurojust.
- Once the directive is published in OJ, MSs have up to 24 months to transpose.
- Directive complements, on criminal law aspects, the directive on the prevention
of use of financial system for purposes of ML/TF, adopted in May.
