Fourth DIRECTIVE

Question 1

what changes were to the threshold bliged to report suspicious transactions

Answer 1

decreased from EUR 15,000 to EUR 10,000.
persons trading in goods
or carrying out transactions)

Question 2

what chages were made to casinos

Answer 2

scope of obliged entities was enlarged all “providers of gambling
services.”

Question 3

what changes were included reagrding transfers of funds e

Answer 3

Customer due diligence is to be applied for transfers of funds exceeding EUR 1,000.

Question 4

what chaanges were bought for penalties for breach of the provisions,

Answer 4

It now range from “name and shame” to withdrawal of authorization.

Question 5

what are the Pecuniary sanctions ?

Answer 5

Applicables on Natural person, set to at least EUR five million or 10% of the total annual turnover
for entities.

Question 6

What is the rules for cooperation mentioned in the Fourth directive

Answer 6

Rules for cooperation between member

state FIUs, the European Supervisory Authorities (ESAs) and the EU Commission.

Question 7

Is some discretion provided to member

states on the application of the provisions.

Answer 7

it is a directive and not a regulation, this legislative act gives some discretion to member
states on the application of the provisions

Question 8

what about holding management function by Criminals or their associates,

Answer 8

This law prevents from holding management functions or indirectly
controlling certain obliged entities.

Question 9

Who will implement the group-wide policies and

procedures

Answer 9

Obliged entities that are part of a group

Question 10

beneficial ownership , what chages have been made

Answer 10

trusts and similar legal arrangements, will maintain information for beneficial ownership in central registers in each member state,

Question 11

Who can have access to the Central register

Answer 11

each member state, and must be made available to competent
authorities, financial intelligence units (FIUs), obliged entities, and any person with legitimate
interest.

Question 12

What is futher included in the term crminal activity

Answer 12

Tax crimes relating to direct and indirect taxes are included in the broad definition of ‘criminal
activity’, in line with the revised FATF Recommendations.

Question 13

what report dies European Commission has to submit

Answer 13

submit a report every two years on the findings of the risk

assessment of ML and TF affecting the internal Market.

Question 14

EU executive need to indentify what

Answer 14

identifying third-country jurisdictions having strategic

deficiencies with regard to AML and CFT

Question 15

Any explations included?

Answer 15

An explanation of “financial activity on an occasional or very limited basis” was included.

Question 16

what is included for third parties

Answer 16

CDD for third parties, For groups (and their branches and subsidiaries)this directive sets the criteria for adequate
compliance

Question 17

what is at a national level does the directive requests

Answer 17

directive requests that member states conduct an ML/TF risk assess-
ment as well as designate a responsible authority.

Question 18

at a national level,directive requests about obliged

entities

Answer 18

take appropriate steps to identify and assess their own risks.

Question 19

what special attention is given to PEP

Answer 19

enhanced due diligence (EDD) should be
applied to every PEP whether the individual is a domestic or third-country citizen. measures they are subject to must also applied to
their family members and their known close associates