EU anti-money laundering reforms: 3 changes for trade finance
Simon Cook was quoted in the article "EU anti-money laundering reforms: 3 changes for trade finance," which was published by Global Trade Review on January 22, 2020.
The 5th Anti-Money Laundering Directive was due to be introduced into national law across all 28 EU member states by January 10, bringing in tighter controls on the movement of funds and more transparency around who owns companies, trusts and other assets. The directive applies to a broad range of businesses and will result in important changes for trade finance players.
In the article, Simon discusses three potential adjustments firms will have to make and whether there are still unanswered questions around how the new requirements will work in practice.