Title: A Guide to the EU’s 5th Anti-Money Laundering Directive (AMLD5) - Sygna
Headings: 
Table of Contents:
PART I: THE EU’S 5TH ANTI-MONEY LAUNDERING DIRECTIVE (AMLD5)
What is AMLD5?
What’s an EU “Directive”?
Why was AMLD5 necessary?
AML Directives 1-6: A Short Review
Here follows a synoptic overview of AMLD 1 to 6 (1991-2020):
How does AMLD5 improve on AMLD4?
Top 5 AMLD5 Updates
What are the main AMLD4-to-AMLD5 policy updates?
What is an AMLD5 “obliged entity”?
PART II: EU MEMBERS’ RESPONSE TO AMLD5
How will the European Commission enforce AMLD5?
February 2020- EC send AMLD5 non-compliance letters to 8 EU members
How are EU countries implementing AMLD5?
PART III: AMLD5 vs CRYPTOCURRENCIES
AMLD5’s Crypto Definitions
Which crypto businesses must comply with AMLD5?
Must crypto-to-crypto exchanges comply with AMLD5?
How does AMLD5 impact the crypto industry?
PART IV: HOW DOES AMLD5 AFFECT EU COUNTRIES’ CRYPTO POLICIES?
The Netherlands’ AMLD5 crypto response (Q1 2020)
The UK’s AMLD5 crypto response (Q1 2020)
Germany’s AMLD5 crypto regulatory response (Q1 2020)
France’s AMLD5 crypto regulations (Q1 2020)
Conclusion
About Sygna Bridge

Content: AMLD5 (June 2018) updated the 4th Directive and introduced new requirements for cryptocurrencies, UBO registers, and prepaid card transaction limits. It had to be transposed by countries before 10 January 2020. AMLD6 (November 2018) updates both AMLD4 and AMLD5, broadens the scope of criminal liability to legal professionals, introduces maximum jail sentences of 4 years, updates the list of predicate offenses and imposes tougher penalties for AML transgressors. AMLD6 has a self-imposed deadline of 3 December 2020 for countries to transpose its measures into local law. How does AMLD5 improve on AMLD4? AMLD5’s legislation bolsters AMLD4 in specific areas: It updates and improves the EU’s current anti-money laundering (AML) and counter-terrorism funding (CFT) policies
It closes AML4 loopholes still being exploited by financial criminals
It brings the European Union bloc’s AML/CFT efforts in line with the new FATF Standards as updated in June 2019. However, there is still no provision for a European “crypto travel rule” as introduced by the FATF’s amended Recommendation 16 on Wire Transfers last year. Top 5 AMLD5 Updates
Obliged entities: Adds fiat-to-crypto companies and custodian wallet service providers
Customer due diligence (CDD):