Money Laundering Bill introduced into Parliament

The Minister of Justice has introduced into Parliament a Money Laundering Bill. On 1 February 1992, money laundering was first explicitly criminalised in the Netherlands by introducing changes to articles in the Penal Code regarding the receipt of stolen goods. In compliance with EU Directive 91/308/EEC of 10 June 1991 the Penal Code will be supplemented by a separate legislative provision on money laundering. The purpose of the new law is to improve the efficiency of prosecution of money laundering offences. The new law is also intended to promote international co-operation between judicial authorities.