Finding the balance between data protection and AML requirements
News    ·   21-06-2017

AUTHOR: Diane Bugeja, Sharon Xuereb

The Fourth Anti-Money Laundering Directive required transposition into national law by 26 June 2017. The new obligations imposed on obliged entities by means of the 4AMLD are significant and require investment in dedicated compliance resources. The changes brought about by the 4AMLD cannot however be seen in isolation but must be considered in the context of other important developments, including revisions to the 4AMLD itself, which are currently being negotiated at EU level and the General Data Protection Regulation, which will come into force on the 25 May 2018. This briefing note discusses the interplay between these two challenging regimes and the steps that obliged entities should consider in light of the more onerous obligations they will soon be subjected to.

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