The 5th AML Directive in 2020: key changes (Part 2)
In 1990 the European Union (“EU”) adopted its ever first Anti Money Laundering (“AML”) Directive in order to combat the abuse of the Financial Systems for the purpose of money laundering. Over the past decades there have been another 3 directives which were called to battle the Money Laundering in the territory of the EU […]
The 5th AML Directive in 2020: key changes (Part 1)
In 1990 the European Union (“EU”) adopted its ever first Anti Money Laundering (“AML”) Directive in order to combat the abuse of the Financial Systems for the purpose of money laundering. Over the past decades there have been another 3 directives which were called to battle the Money Laundering in the territory of the EU […]
UBO Register in the EU: a glass house without curtains
The European Union puts more effort on combating tax evasion and tax driven corporate structures. With the implementation of the 4th AML directive a new step forward was made – the introduction of the UBO register. However this EU-wide initiative may not serve its purpose.