August 24 2017
Belgium is the EU’s most lenient country on money laundering despite its role in terrorist financing, anti-money laundering (AML) specialists Fortytwo Data have revealed.
The European Union’s disjointed approach to the fight against money laundering was laid bare as it emerged Belgium has a maximum sentence of just five years, the lowest of any EU country.
The strictest country, Bulgaria, has a maximum sentence six times higher at 30 years. In Malta the maximum sentence, when linked to drugs offences, is life.
Money laundering underpins terrorist financing as extremists move money around the globe to fund the planning and execution of attacks.