LUX LATEST: European Commission bringing Luxembourg to court for failure to transpose 2014 directive on seizing criminal profits - AML Intelligence
Compliance & Anti-Financial Crime
Leadership | Insight | Network

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.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!