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<p>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.</p>
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