The UK government’s consultation on the transposition of the EU’s fifth money laundering directive (5MLD) is set to close at 11.59pm on 10 June 2019.

This consultation aims to receive views and evidence on the government’s proposed steps to meet the UK’s expected obligation to transpose 5MLD into national law.

It will play a “key role” in deciding how 5MLD will be best transposed into UK law.

5MLD makes amendments to the fourth money laundering directive on preventing the use of the financial system for money laundering and terrorist financing purposes.

These amendments should further str...