Germany: Ministry of Finance Consults on Transposition of 5th AMLD

On May 24, 2019, the Federal Ministry of Finance in Germany announced the launch of a consultation seeking feedback in relation to a draft law aiming to transpose the provisions of the 5th Anti-Money Laundering Directive (5th AMLD) into the national legal order. The bill essentially introduces amendments to existing acts to align them with the European requirements. In particular, implementation primarily requires amendments to the Money Laundering Act (MLA).

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