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October 31, 2017

The European Union Fourth Anti-Money Laundering Directive (the “New AML Directive”), enacted on 25 June 2016 which was due to be implemented on 26 June 2017, replaces the previous Third Directive. It is yet to be enacted into local legislation yet but when the national law is transposed its effects will be wide reaching. Below we examine the main provisions and its potential effects for certain sectors:-

The main provisions of the New AML Directive are the following: 

  • Extension of the scope of anti-money laundering legislation requirements by reducing the threshold for cash transactions from €15.000 to €10.000 

  • Establishing clear transparency r...

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