BELGIUM: IMPLEMENTATION OF THE EU’S FIFTH AML DIRECTIVE – INCLUDING TO FOOTBALL

On 6 August, an article from Baker McKenzie said that Belgium now fully implemented the into Belgian law after a delay of approximately 7 months after the intended deadline of 1 January. The article explains what has changed, what the changes mean and what comes next. It notes that Belgium has additionally decided to add professional football clubs and sports brokers in the football sector to Belgium’s AML framework, following recent scandals. However, it remains to be seen how the Belgian legislator and Federal Public Service Economy will actually implement and apply the AML framework to the football sector.

https://insightplus.bakermckenzie.com/bm/banking-finance_1/belgium-implementation-of-the-eus-5th-anti-money-laundering-directive-amld5

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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