sector on AML
German adaptation of money laundering law
to the EU Money Laundering Directive
In January 2020, the 5th EU Money Laundering
Directive (EU 2018/843) was enacted which increased
the auditing and due diligence requirements for non-
financial sectors. As a result, Germany has adapted
its money laundering legislation accordingly.
High unit costs for a given “low” number of
Differentiation of data quality, for example, a
missing “local” PEP filter for different regions
can cause a higher number of false positives hits.
Latter might result in a higher cost per screening
as the manual resolution effort increases, too.
The induction of a risk-based approach offers
many chances but is often only considered as a
burden for business operations
Some common challenges for the non-financial
sector are for example:
Overall it may be said that anti-money laundering
commissioner´s role might change in the future. This
is not only true because of the current challenges
triggered by the 5th EU Money Laundering