The definitions of money laundering and terrorist financing are now harmonised definitions for the whole of the EU (Article 1). These definitions incorporate the words criminal activity (as defined). Criminal activity includes tax crimes as an offence (Article 3). Property is also defined, to include assets of any kind, in any form including electronic or digital, evidencing title to or an interest in such assets.
Money laundering will be regarded as such, even where the activities that generated the property to be laundered were carried out in the territory of another Member State or in that of a third country (Article 1(4)).
MLD4 and MLD5 are minimum harmonisation measures, which will allow Member States to impose stricter measures (Article 5).