Author: Alessandro Villani

EU adopts 5th Anti-Money Laundering Directive

On 19 June, the fifth Anti-Money Laundering Directive (5AMLD) was published in the Official Journal of the European Union. The Directive has important implications for virtual currencies and further toughens EU rules around information on the beneficial ownership of companies and trusts. The Directive will enter into force on 9 July 2018 and Member States will have until 10 January 2020 to amend their national laws to conform with the new Directive. What is 5AMLD? 5AMLD is not a ‘free-standing