What is AMLD5? Back to list

Member SinceSep 14, 2022

Posts 109


Mar 15, 2023 a 02:36
AMLD5, or the Fifth Anti-Money Laundering Directive, is a European Union regulation that was adopted in 2018 to strengthen the fight against money laundering and terrorist financing. It updates the previous AMLD4 and introduces new rules and requirements for financial institutions and other regulated entities.

Under AMLD5, cryptocurrency exchanges, virtual wallet providers, and other crypto-related businesses are now subject to the same AML/CFT requirements as traditional financial institutions. This means they must conduct customer due diligence, monitor transactions for suspicious activity, and report any suspicious transactions to the authorities.

In addition, AMLD5 introduces new rules for beneficial ownership, which require companies to maintain accurate and up-to-date information on their ultimate beneficial owners. It also establishes a central register of beneficial ownership information for EU companies.

Overall, AMLD5 is a significant development in the fight against money laundering and terrorist financing, and it represents a major step toward greater transparency and accountability in the financial sector.

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