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THE KYC DICTIONARY
6AMLD: The 6th Anti-Money Laundering Directive
Definition
From the Anti-Money Laundering Directives, the 6 AMLD is the sixth installment and the most recent update from the European Union with key points including:
- Uniform treatment and collaboration among all EU member states for AML/CFT regulations
- An expanded range of formally defined crimes under Money Laundering, now including two new categories: cybercrime and environmental crime
- Broadening of accountability to encompass not only those who commit the crime but also those who facilitate it (e.g., aiding and abetting)
- Expansion of liability to ensure that both individuals and organizations can be held accountable
- Stricter penalties for violators, introducing a mandatory minimum prison sentence of 4 years (up from the previous 1 year sentence)
Related terms
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