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Bergstrom, Maria --- "Legal perspectives on money laundering" [2019] ELECD 2981; in Mitsilegas, Valsamis; Hufnagel, Saskia; Moiseienko, Anton (eds), "Research Handbook on Transnational Crime" (Edward Elgar Publishing, 2019) 98

Book Title: Research Handbook on Transnational Crime

Editor(s): Mitsilegas, Valsamis; Hufnagel, Saskia; Moiseienko, Anton

Publisher: Edward Elgar Publishing

Section: Chapter 8

Section Title: Legal perspectives on money laundering

Author(s): Bergström, Maria

Number of pages: 14

Abstract/Description:

Within the European Union (EU), the administrative and criminal law frameworks in Member States stem from EU Directives, which in turn transpose and closely follow complementary activities carried out in international fora, in particular those of the Financial Action Task Force (FATF), the United Nations, and the Council of Europe, as well as banking organisations. This chapter argues that it is high time to evaluate the legal implications of the regulatory frameworks. Arguably, the most pressing legal question is not so much whether the EU has the power to regulate within this field, even when it comes to criminal law, nor whether it should, or whether such regulation is effective for its stated purposes, but rather what added value an EU criminal law directive based on Article 83(1) TFEU might have, as well as what might still be missing.