Deal on EU-Wide Penalties for Money Laundering Backed by Civil Liberties MEPs

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The European Parliament’s civil liberties, justice and home affairs committee, today backed two reports designed to make it harder for organised criminals and terrorists to access their illegally gained funds. The new measures, informally agreed with Council in May, were confirmed by Civil Liberties MEPs today with 46 votes in favour, 1 against, no abstentions.

The proposals will make it easier for authorities to freeze and confiscate illegally obtained assets across borders and crack down on money laundering. An agreement between the Council, Commission and Parliament was reached on the new laws last week.

Currently, the differences between the EU countries in defining and sanctioning money laundering offences affect cross-border police and judicial cooperation and can be exploited by criminals and terrorists. The new strengthened EU-wide rules will improve enforcement in this area and act as a greater deterrent to terrorist and criminal activity.

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