Money laundering has remained at the front of people’s minds in the past year, with the leak of the Paradise Papers following 2016’s Panama Papers leak. That led the European Parliament to set up a new investigations committee focusing on companies and individuals flouting money laundering, tax evasion and tax avoidance rules.
EU governments and firms were busy preparing for the June 2017 implementation of the EU Fourth Money Laundering Directive (4MLD), which incorporates significant changes to the European anti-money laundering (AML) framework. Not content with one transformation, EU bodies are currently finalising the Fifth Money Laundering Directive (5MLD).
The last 12 months has also seen the coming into force of the UK’s Criminal Finances Act, which introduced unexplained wealth orders and created a new offence of failure to prevent the facilitation of tax evasion. With a post-Brexit environment in mind, the United Kingdom has introduced a Sanctions Bill to enable the
... read more at: https://globalinvestigationsreview.com/benchmarking/the-european-middle-eastern-and-african-investigations-review-2018/1169933/money-laundering-compliance-and-investigations-across-emea