Webinar: The Fifth Anti-Money Laundering Directive - What Now?

On-demand webinar: The Fifth Anti-Money Laundering Directive – What Now?

On 10 January 2020 The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 came into force. This statutory instrument updates the UK’s existing anti-money laundering legislation to take account of the Fifth Directive. With the UK due to exit the European Union just three weeks after, what will the future of money laundering regulation look like?

In this webinar, our experts gave guidance on the application of the Fifth Directive in the UK and what to watch out for in the post-Brexit UK money laundering regime.

The webinar covered:

What will the future of money laundering regulation in the UK look like?
What are the key changes under the Fifth Directive?
Answering questions from registrants

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VinciWorks’ AML training suite

Screenshot of VinciWorks' AML course — AML: Know Your Risk, is one of the courses which will be updated once the Fifth Directive comes into force.

In advance of the Fifth Money Laundering Directive coming into force, VinciWorks will update all of its anti-money laundering courses to accurately reflect the latest regulations. This includes our gamified course, AML: Know Your Risk. The course takes the risk-based approach mandated by the Fourth Money Laundering Directive and drops users into real life, immersive scenarios to test their knowledge, understanding and ability to uncover risks of money laundering hidden in everyday transactions.

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”