The EU Council (at ambassadors' level) confirmed the agreement reached between the Bulgarian Presidency and the Parliament on new rules on using criminal law to counter money laundering. Member states will transpose it into national law within 24 months after the linguistic revision is done.
It has been agreed to tackle anti-money laundering within the Union with harsh measures, including:
The compromise also includes clearer rules to define which member state has jurisdiction and the cooperation between member states in cross border cases, as well as the need to involve Eurojust.
The directive aims to disrupt and prevent terrorist financing and financial crimes with regard to the use of criminal law. “It is another building block in EU’s overall plan to stem the flow of money available to criminals,” said Tsetska Tsacheva, Bulgarian minister of Justice. It also acts as a complement on the criminal law aspects to the directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing adopted last month.
Source: EU Council
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):