Belgium too lenient on money laundering, says agency

Belgium is the most lenient country in the European Union when it comes to sentencing for money laundering, according to a report by the London-based Fortytwo Data, which produces technology to combat the crime. Belgium has a maximum sentence of five years, the lowest of all member states.

“It is remarkable and deeply concerning that such weak sentencing powers are found in a country that has acted as a staging post for international terrorism,” said Fortytwo Data CEO Julian Dixon. “Terrorists cannot operate without funds, and that money must often be moved across international borders. This is why tackling money laundering is crucial in the fight against terrorism, but the EU and its allies must speak with one voice.”

Bulgaria has the highest maximum sentence of 30 years. Courts in Malta can go up to life imprisonment in cases where money laundering is linked to drugs. Elsewhere, sentences range from six years in Denmark, Finland and Sweden, to 20 years in Greece, Luxembourg and Slovakia.

Belgium has, however, met the deadline of 26 June for the implementation of the latest EU directive on money laundering. Seventeen member states have still not adapted legislation or procedures required by the directive.

Photo: Ingimage