The Anti-Money Laundering Directive (AED) has introduced significant changes to the landscape of financial crime prevention, expanding the scope of reporting obligations under Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) frameworks. In a recent update by EY, industry stakeholders are urged to take note of the enhanced compliance requirements aimed at strengthening transparency and curbing illicit financial activities. This article delves into the key amendments brought forth by the AED and their implications for regulated entities across the sector.
The AED Broadens Scope of AML and CFT Reporting Requirements
The latest amendments introduced by the AED mark a significant shift in the regulatory landscape, extending the ambit of AML and CFT reporting to encompass a wider array of entities and transactions. Financial institutions, virtual asset service providers, and certain non-financial professionals are now subject to enhanced due diligence and…
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Author : Ava Thompson
Publish date : 2025-06-03 05:19:00
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