Hard to believe, but even though the 5th EU anti-money laundering directive is not yet in force the 6th is already being worked on over in Brussels. Brexit notwithstanding the UK is likely to implement these directives. Here is all you need to know for now…
The 5th directive will be brought into force in 2020. Its main provisions are these.
The 6th directive is even less exciting. When it eventually arrives it will mainly tidy up the underlying criminal law. For example it will require states to impose criminal liability on companies for AML offences, and it will require states to criminalise aiding and abetting money laundering. So far it seems this will make little difference to the UK, where these things seem adequately covered already.
Needless to say our training and precedents will cover all changes long before they come into effect.