anti-money laundering

KYC & AML requirements for estate agents and how real estate is used for money laundering

Popular BBC drama McMafia is apparently holding a mirror up to money laundering in the London property market, accurately portraying the industry to be a haven for criminals looking to clean up “dirty” money.

Update on the fifth Anti-money Laundering Directive

On 13 December 2017, a provisional agreement on the final text of the fifth Anti-Money Laundering Directive, known as 5MLD, was published. This will amend the current Fourth Anti-Money Laundering Directive, and once the text has been approved by the Permanent Representatives Committee and an agreement is reached between the European Parliament and Council, 5MLD will be formally adopted – although the exact date of implementation is yet to be determined. A summary of the key changes to the Anti-Money Laundering Directive that 5MLD will bring includes: