LexisNexis® Risk Solutions, the global analytics provider, today recognises that many firms will struggle to implement the new requirements of the upcoming 5th Anti-Money Laundering Directive (5MLD) coming into force on 10th January 2020. Prompted by recent events including the Panama Papers leaks, increased money laundering risks of cryptocurrencies and significant changes to the nature and frequency of terrorist attacks, the EU is cracking down on money laundering and terrorist financing with new legislation. UK Government recently consulted with industry on the introduction of 5MLD, but has yet to issue a response. However, business leaders should not wait, and must ensure that they are taking the necessary steps to prepare for the impending regulation ahead of the January deadline, or risk facing penalties for regulatory breaches in 2020 and beyond.
To help compliance teams safeguard their business, LexisNexis Risk Solutions has launched a guide on adapting