AMLD V

Fifth Anti-Money Laundering Directive (AMLD V)

Directive (EU) 2018/843
In forceDirectiveESG & Governance

This Directive amends Directive (EU) 2015/849 to strengthen the EU regulatory framework for preventing the use of the financial system for money laundering and terrorist financing. Key measures include: bringing virtual currency exchange providers and custodian wallet providers into scope as regulated entities; lowering the thresholds for anonymous prepaid cards; establishing beneficial ownership registers (covering corporate entities and trusts); setting up centralised automated mechanisms for financial accounts and safe-deposit boxes; strengthening customer due diligence for high-risk third countries; and enhancing information exchange and cooperation between financial intelligence units (FIUs).

Timeline

  1. 9 Jul 2018
    Entry into force
  2. 10 Jan 2019
    Customer due diligence on anonymous accounts
  3. 10 Jan 2020Authorities
    Member State transposition deadline (Article 4)
  4. 10 Jan 2020
    Set-up of beneficial ownership registers for companies
  5. 10 Mar 2020
    Set-up of beneficial ownership registers for trusts
  6. 10 Jul 2020
    Acquirers may only accept payments carried out with anonymous prepaid cards issued in third countries that meet equivalent requirements (Article 12(3) of Dir (EU) 2015/849)
  7. 10 Sep 2020
    Set-up of centralised account identification mechanisms
  8. 10 Mar 2021
    Interconnection of central registers
  9. 11 Jan 2022Authorities
    First Commission report on the implementation of the Directive (Article 65(1) of Dir (EU) 2015/849)

Key facts

Reference
Directive (EU) 2018/843
Adopted
30 May 2018
Published
19 Jun 2018
Status
In force
Amendments
Amends Dir (EU) 2015/849 (AMLD4). AMLD4, including the amendments made by this Directive, will be repealed by Article 77 of Dir (EU) 2024/1640 (AMLD6) with effect from 10 July 2027; its provisions will be replaced by Reg (EU) 2024/1624 (AMLR, which applies in principle from the same date) and AMLD6.
Topic
ESG & Governance
Industries
Cross-sector, Financial Services

Main compliance requirements

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Related legislation

  • Amends: Directive (EU) 2015/849 (on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing)
  • also amends Directive 2009/138/EC (Solvency II Directive) and Directive 2013/36/EU (Capital Requirements Directive)

Official sources

Directive (EU) 2018/843 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering

Full text on EUR-Lex (Directive (EU) 2018/843)

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