12 Nov, 2018

6th EU AML Directive

Categories: Uncategorized

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]