Release of the EU's Fourth AML Directive resulted in what change to member state*s procedures? (Select Two.)

Question

Options

• AThe threshold for reporting suspicious transactions decreased from 15,000 EUR to 10,000 EUR.
• BAll financial institutions were required to identify and verify the beneficial owner of legal entities.
• CMoney laundering and terrorist financing were defined as separate crimes, expanding the
• DThe scope of obliged entities was enlarged from casinos to all providers of gambling services.
• EKnowledge of criminal conduct could be inferred from objective factual circumstances.

• A
  76% (13)
• C
  12% (2)
• D
  6% (1)
• E
  6% (1)

Explanation

The EU Fourth AML Directive, the release of the EU's Fourth AML Directive resulted in the threshold for reporting suspicious transactions decreasing from 15,000 EUR to 10,000 EUR (Answer A) and all financial institutions were required to identify and verify the beneficial owner of legal entities (Answer B). The directive also defined money laundering and terrorist financing as separate crimes, which expanded the directive's measures (Answer C). Answer D is incorrect as the scope of obliged entities was not enlarged from casinos to all providers of gambling services, but rather to all providers of payment services. Answer E is also incorrect as the directive does not provide that knowledge of criminal conduct can be inferred from objective factual

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