Anti-Financial Crime & Financial Crime Compliance
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AML, Compliance, EU/Europe

LUX LATEST: European Commission bringing Luxembourg to court for failure to transpose 2014 directive on seizing criminal profits

By Dan Byrne for AMLi

The European Commission is to refer Luxembourg to the Court of Justice following a lack of progress on new laws around illicit profits.

It will ask the court to order financial penalties as a means of settling a case against the Grand Duchy – ongoing ever since it missed a deadline to transpose an EU directive into its national laws.

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