Money Laundering: EU Law:Written question - 281755

(Newcastle upon Tyne North)

Named Day

'Named day' questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.

Asked on: 24 July 2019
Home Office
Money Laundering: EU Law
To ask the Secretary of State for the Home Department, what assessment her Department has made of the equivalence of the UK's corporate liability regime achieve with article 7 (the liability of legal persons) of EU Directive 2018/1673 on combating money laundering by criminal law.
Answered by: Brandon Lewis
Answered on: 03 September 2019

As set out in the Eighth Annual Report to Parliament on the Application of Protocols 19 and 21 to the Treaty on European Union (TEU) and the Treaty on the Functioning of the Union (TFEU) in Relation to EU Justice and Home Affairs (JHA) Matters (1 December 2016 – 30 November 2017) (Cm 9580), the UK Government decided not to opt into the EU Directive on combating money laundering by criminal law as our domestic legislation is already largely compliant with the Directive’s measures, and in relation to the offences and sentences set out in the Directive, the UK already goes much further. Therefore, it was not considered that opting in would enhance the UK’s approach to tackling money laundering.

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