When did the 5th AML directive come into force?
10th January, 2020
What are custodian wallet providers?
Firms that provide services to safeguard, or to safeguard and administer assets on behalf of its customers
What amount of money does an art dealer need to report to an FIU?
10 000 €
Remote payment e-money transactions that exceed X€ are now subject to customer due diligence measures. Replace the X.
50€
According to the 5th AML directive beneficial ownership register needs to become ...
Accessible to any member of the public
FIUs have the ability to acquire any information they need from any obliged entity, only with a previous suspicious transaction report being made. Is this statement correct?
No. FIUs have the ability to acquire any information, EVEN without a previous suspicious transaction report being made.
According to the 5th AML directive all member states should register PEPs to ...
An up-to-date, publicly available list of PEPs with exact functions which qualify as prominent public functions
According to the 5th AML directive, identification and verification of customers must be based on ...
documents, data or information from a reliable and independent source.
Currently, member states determine their own type of EDD measures that should be applied towards high-risk countries. Is that a correct statement?
No, according to the 5th AML directive, EDD measures need to be harmonized across all member states with business based in high-risk countries.
Obliged person is ...
an entity who's a subject to an administrative financial check, on-the-spot financial check, internal audit or government audit, etc.
