The 5th Anti-Money laundering Directive has entered into force following its publication in the EU's Official Journal
Member States will have to implement these new rules into their national legislation before 10 January 2020.
In addition, in May 2018 the Commission invited the European Supervisory Authorities (European Central Bank, European Banking Authority, European Insurance and Occupational Pensions Authority, European Securities and Markets Authority) to a joint working group to improve the practical coordination of anti-money laundering supervision of financial institutions. Work in this group is now ongoing and a first exchange with Member States is planned in September.
For more information see this EC factsheet on the main changes brought by the directive.
AME will be discussing many of these issues at our next event in the European Parliament on 27 September 2018.