Second Directive

Issued in 2001 as 2001/97/EEC; required stricter money laundering controls.

  • It included all serious crimes as predicate crimes, including fraud

  • It brought bureau de change and money remitters into scope

  • It introduced ‘willful blindness’

  • A precise definition of laundering (i.e. concealing the criminal source of funds, or using property knowing it was from a criminal source)

  • It went much further than US law, and even the FATF guidance

  • It included lawyers moving money for clients, auditors, accountants, tax advisers, real estate agents, notaries, legal professionals

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