Four becomes five
Life never stands still.
Just two and a half years ago the Fourth Money Laundering Directive (4MLD) came into effect giving rise to the Trust Registration Service (TRS). Now, regulations have been enacted bringing into force 5MLD to ensure that the UK’s anti-money laundering and counter terrorist financing regime is up-to-date, effective and proportionate.
This has a knock-on effect on the TRS as we know it, and with that in mind the Government has issued this consultation on the potential impact. Lots of tecchie detail of course, but in honour of 5MLD, here’s five fast facts covering what you need to know.