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A summary of the key legislative and enforcement developments in white collar crime across Europe

The reports in the Q3/2018 edition show that the fight against financial crime continues across Europe although with differing degrees of urgency depending on jurisdiction.

Politically exposed persons continue to be an area of focus. In France and Romania there have been investigations into public officials, Germany has been criticised for lacking measures to tackle parliamentary corruption and in the UK the first ever ‘Unexplained Wealth Order’ has been used against the wife of a politically exposed person (the chairman of a state-owned bank in Azerbaijan).

Financial crime spans borders, and we are seeing more measures being used by authorities to make it easier to fight financial crime across borders too. It is now more difficult for foreign shell companies to be used for improper purposes as the roll-out of the 4MLD beneficial ownership registers continues.

A recent English court ruling will make it more difficult for companies to refuse to disclose to investigators documents held abroad by associated entities. And we see more international collaboration – for example, a new joint initiative between Europol and Eurojust to finance joint investigation teams, and a new collaboration between the UK, US, Netherlands, Australia and Canada to fight tax evasion, known as ‘J5’.

We also summarise the current state of implementation of 4MLD and 5MLD.

Please click here to view the full 2018/Q3 report or click through the tabs above for specific subjects.

Please see Looking ahead section for information on forthcoming developments. And for previous edition of the Report see the Archive section.
 
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Further information

Archive

Looking ahead

Other developments

Related expertise

Anti-Bribery and Corruption



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