Hot Issue (#01-02 January-February 2020)

The Implementation of the Fifth Anti-Money Laundering Directive in German Law Ч Tightening of the Screw?

by Dr. Timo Holzborn, Olexiy Oleshchuk

In the course of the УPanama PaperФ scandal, EU Directive 2015/849 on prevention of the use of the financial system for the purposes of money laundering or terrorist financing Ч known as 4. Anti-Money Laundering Directive (У4. AMLDФ) Ч was amended by EU Directive 2018/843, which is known as the Fifth Anti-Money Laundering Directive (У5. AMLDФ), despite being only an amendment to 4. AMLD. 5. AMLD came into force in mid-2018. Each EU member state must transpose 5. AMLD into national legislation by 10 January 2020.

In general, the 5. AMLD implements the following changes:

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