How do the 5AMLD changes affect you?

Beneficial Ownership

Trust, Transparency and Legitimate Access.

Virtual Currencies

Anonymous safe deposit will also no longer be permitted.

Enhanced Due Diligence for High-Risk Third Countries

Mandatory due diligence with High-Risk countries covering funding sources, background checks and beneficial ownership.

Broader coverage includes Artwork Trade.

Prepaid Cards

Lower ceiling for e-money and prepaid cards i.e. €250 to €150.

Broader information sharing

Greater harmonisation and support of organisations to regulate relationships with High-Risk countries.