If you've been following the implementation of different measures under 5AMLD, I'd hazard a guess that you've probably had a similar thought to me upon learning that the UK Home Office is to drop the 5AMLD bank account portal plan. Common sense in action?
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'We welcome the cancellation, as it avoids imposing further regulatory burdens on firms and adding to compliance costs,' commented the Law Society of England and Wales.
https://www.step.org/industry-news/uk-home-office-drops-5amld-bank-account-portal-plan
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