Home AML AML Basics The EU’s 5th Anti-Money Laundering Directive: What Does It Mean?

The EU’s 5th Anti-Money Laundering Directive: What Does It Mean?

39

September 13, 2018

In the past week alone, cases of money laundering have hit headlines all around Europe. An investigation found that up to $30 billion of ex-Soviet and Russian money had potentially passed through the Estonian branch of Denmark’s largest bank, Danske Bank. It also emerged only last week that Dutch bank ING will have to pay €775m in fines after it allowed ‘structural infringement’ of the Netherlands’ Money Laundering and Terrorist Financing Act. So, what is being done about Europe’s evident money laundering problem?