25 Years of Fight Against Money Laundering in Hungary
25 Years of Fight Against Money Laundering in Hungary
Author(s): István László GálSubject(s): Law, Constitution, Jurisprudence, Civil Law
Published by: Universul Juridic
Keywords: money laundering; AML; criminal law; Anti-Money Laundering Directive; MONEYVAL;
Summary/Abstract: The AML regulation is continuously enhancing in the last two and a half decades in Europe. Hungary was the first of the former COMECON member states which enacted antimoney laundering rules in 1994. Regulations have changed several times since that year, but there was no significant practice in the crime. Usually fewer than 5-10 investigations were launched each year with suspicions of money laundering, but something changed in the 2010’s. Today we have 400 investigations in progress with the suspicion of money laundering. Something is happening in Hungary, and the EU is upgrading its regulation permanently. The 6th AML directive is coming soon.
Journal: Journal of Eastern European Criminal Law
- Issue Year: 2019
- Issue No: 02
- Page Range: 62-71
- Page Count: 10
- Language: English
- Content File-PDF