Fifth Anti-Money Laundering Directive

The Fifth Anti-Money Laundering Directive (5AMLD) is a European law that enhances the fight against money laundering and terrorist financing. It requires financial institutions and certain businesses to verify customer identities more thoroughly, track suspicious transactions, and share information with authorities. The directive also introduces increased transparency around who owns companies and trusts, making it harder for illicit funds to be hidden. Overall, 5AMLD aims to prevent criminals from using the financial system to conceal illegal activities while safeguarding legitimate financial transactions.