5 min briefing on Proposed Anti Money Laundering (AML) Threshold Change

Proposed Anti Money Laundering (AML) Threshold Changes: Understanding the Impact

The European Commission has presented a significant package of reforms in the AML/KYC area in response to several money laundering failures within the EU.

Within this MEPs have proposed various updates to EU Anti Money Laundering (AML) regulations and are looking at changing the threshold of who is considered an Ultimate Beneficial Owner. This 5-minute briefing led by Neil Isherwood, an expert in third-party risk and compliance at Dun & Bradstreet, sheds light on these adjustments to thresholds for beneficial ownership, a pivotal aspect of AML Regulation.

Discover:

• AML reforms driven by recent money laundering incidents in the EU.
• Four key pillars of change: AML regulations, directives, pan-European regulatory authority (AMLA), and Transfer of Funds regulation amendments.
• Implications of reducing Ultimate Beneficial Owner (UBO) thresholds from 25% to 15%, and 5% for high-risk cases.
• Operational consequences: heightened screening, increased candidate volume, potential false positives.
• Concerns from the European Banking Federation and practical considerations regarding shifting UBO thresholds.

If you have suggestions for potential topics or would like to find out more about how Dun & Bradstreet can support you with regulatory, micro-, or macro-economic changes, please click the button below to get in touch.