The upcoming 5MLD will bring about significant changes to the requirements on regulated businesses and with less than a year to go, businesses must start preparing now.

During our recent webinar, we were joined by Diane Brocklebank, Director at Prepaid International Forum and Declan Byrne, Managing Director at GVS Prepaid Ltd, to discuss how these upcoming regulations will impact customer on-boarding & customer due diligence, including:

  • Decrease in CDD threshold
  • National Register for UBOs and PSCs
  • Beneficial Ownership
  • High-Risk Third Countries
  • New types of businesses in CDD scope
  • Significantly increased penalties

Catch-up on our discussion below.

If you have any questions about the upcoming regulations or want to know how our service can help you adhere to these regulations, email info.identify@hooyu.com.