Customer Due Diligence (CDD): Practical Changes brought to the Financial Sector by the 4th and 5th AML Directives

This e-presentation gives an overview on the main novelties introduced by the European Union’s 4th and upcoming 5th Anti-Money Laundering (AML) Directives. A detailed look is taken at customer due diligence (CDD), especially with regard to the new definition of politically exposed persons (PEP), how to deal with them, and how to assess the risk. Furthermore, the presentation outlines when and how to apply CDD with respect to electronic money, especially anonymous cards issued in third countries. Finally, approaches to simplified due diligence (SDD) under the 4th and 5th Directives are outlined.

Joanna Grynfelder

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at international level in respect of the original or copies of the work, except where the first sale or other transfer of ownership of that object is made by the right holder or with his consent.

within the Community in respect of the original of the work, except where the first sale or other transfer of ownership in the Community of that object is made by the right holder and without his consent.

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to the intangible object of a protected work.

to the tangible object of a protected work.

to both intangible and tangible object of a protected work.

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must make own copy unusable.

must make own copy usable for a limited time period.

must save a copy of the work.