An amended bill extending existing measures to combat financial and economic crime is now before the Second Chamber. We highlight the proposed amendments.
The proposed amendments include:
- Increased maximum sentences for the various types of money laundering
- Increased maximum term of imprisonment of four years for economic offenders who systematically violate the law
- Increased fines for enterprises that commit financial and economic offences. Under the bill, the courts can impose maximum fines of up to 10% of annual turnover
- Misuse of community funds to become a specific criminal offence
- Corrupt government employees may receive maximum prison terms of six years if they accept favours because of their position
- A faster procedure is introduced where, in the course of a criminal investigation, the police and public prosecutor seek access to information that is subject to lawyer-client or professional privilege
If you would like to know more about this new legislation, please read our RCE Newsletter July 2012.