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An overview of the 5th Money Laundering Directive

The 5th Money Laundering Directive (5MLD) was enacted on 10 January 2020.  

The Directive was introduced by the EU in response to changes in how terrorists operate, the publication of the Panama Papers, the use of offshore accounts and the increased use of crypto-currencies and other digital currencies for the purposes of money laundering.  

A link to the 5MLD regulations can be found here. We have also produced an overview, which is available here on the IPA website. 

The Consultative Committee of Accountancy Bodies (CCAB) has produced a guide to the Directive. This is currently awaiting H M Treasury approval. Once this is completed, we will circulate a copy of the guidance and place it on our website.