The implementation of the new EU money laundering directive (6AMLD) came into effect on 6th December 2020 and must be implemented by all relevant financial institutions by 3rd June 2021. Industries affected by this change include:
- Real Estate
- Banking & Finance
- Credit Institutions
- Legal Professionals
- Auditors, Accountancy & Tax Advisors
- Gambling Services
The 6th Anti Money Laundering Directive aims to empower financial institutions and authorities to do more in the fight against money laundering and terrorism financing by expanding the scope of existing legislation and toughening criminal penalties.