Insights - Beyond

AML 5 & 6 - Accelerating compliance - BeyondFS

Written by Author | Dec 21, 2020 11:30:00 AM

According to recent analysis conducted by LexisNexis, many financial institutions are struggling to complete their implementation plans for the Fifth Anti-Money Laundering Directive (5AMLD). Perhaps even more troubling is that many of those surveyed were not even aware of its key purpose. So what are the drivers behind this directive and what activities should banks be focusing on to ensure their compliance to both 5AMLD and the recent Sixth Anti-Money Laundering Directive (6AMLD)?