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Saturday, December 1, 2001
Volume:
17
Issue:
1
492
Abstract:
The compromise would exempt lawyers form reporting money laundering activities when they provide criminal defense services to a client charged with a crime. Lawyers would be required to report transactions if they “know” such use of funds is intended for money laundering when they offer counsel to a client. Since September 13, 2001, the Council of Ministers and the European Parliament have participate in the Conciliation Committee to reach a compromise. The European Parliament had rejected the Council of Ministers’ versions of the bill.