The Fourth Anti-Money Laundering Directive (Directive (EU) No. 2015/849) (the “Directive”) entered into force on 26 June 2015. It takes into account the 40 recommendations adopted by the Financial Action Task Force (FATF) in 2012 which all EU Member States have committed to.

The Directive plays an important part in the EU regulatory framework dedicated to combatting financial crime. It confers a key role to the principle of risk analysis and the corresponding adequate safeguards regarding money laundering and terrorism financing, setting clear transparency requirements about beneficial ownership for companies. The Directive was transposed into the Cyprus legislation with the adoption of a new Measures against Money Laundering Act.