What is the currency threshold under the European Union Fourth Anti-Money Laundering Directive?

The correct answer is C. 10,000 Euros. The European Union Fourth Anti-Money Laundering Directive (4th AMLD) is a legal framework that aims to prevent the use of the Union's financial system for the purposes of money laundering and terrorist financing. One of the provisions of the 4th AMLD is to lower the currency…

Compliance Standards (International AML/CFT Standards and the role of FATF)

Question

Options

A3,000 Euros
B5,000 Euros
C10,000 Euros
D15,000 Euros

How the community answered

(54 responses)

A
9% (5)
B
4% (2)
C
70% (38)
D
17% (9)

Explanation

The European Union Fourth Anti-Money Laundering Directive (4th AMLD) is a legal framework that aims to prevent the use of the Union's financial system for the purposes of money laundering and terrorist financing. One of the provisions of the 4th AMLD is to lower the currency threshold for cash payments from 15,000 to 10,000. This means that any person who makes or receives cash payments of 10,000 or more, whether in a single transaction or in several linked transactions, is subject to customer due diligence and record-keeping obligations. The 4th AMLD also extends its applicability to providers of gambling services, which are now listed as `obliged

Topics

#EU 4th AMLD#currency threshold#EU directive#reporting threshold

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