November 2010

04.11.10 FATF to add Tax Crimes as a ‘Predicate offence’ for money laundering

The Financial Action Task Force in its consultation document ‘Preparation for the 4th Round of Mutual Evaluations’ states that is considering including tax crimes as a predicate offence for money laundering in the context of its recommendation 1. More precisely, it proposes to amend the list of designated categories of predicate offences for money laundering as follows:

To clarify the current designated category of smuggling by referring to: smuggling including in relation to customs and excise duties and taxes.

To add a separate designated offence category: tax crimes – related to direct taxes and indirect taxes.