TIME TO FOCUS ON THE SIXTH MONEY LAUNDERING DIRECTIVE (6MLD)

An article from Ince on 13 October says that EU Member States are required to transpose the 6MLD into national law by 3 December.  After which, relevant regulations must be implemented by companies within the EU Member States by 3 June 2021.  Therefore, it is critical that companies familiarise themselves with 6MLD to prepare for its implementation.  The 6MLD seeks to close certain loopholes in the EU Member States’ domestic legislation by harmonising the definition of money laundering across the bloc. The 6MLD also places a particular focus on “predicate offences” as it expands the list of crimes to better reflect the modern threat landscape.  It identifies the key provisions of 6MLD.

https://www.incegd.com/en/news-insights/regulatory-6mld-are-your-directing-minds-clear-financial-crime

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

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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