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Clifford Chance

Regulatory Investigations and Financial Crime Insights

Implementation of the EU's Fifth Money Laundering Directive

On 9 July 2018, the EU's Fifth Money Laundering Directive came into force.

Member States now have until 10 January 2020 to give effect in local law to its provisions, which impose a range of potentially onerous new requirements. The amendments made by 5MLD form part of the EU Commission's action plan on further strengthening the fight against terrorist financing.