Dutch implementation of the 4th Anti-Money Laundering (EU) Directive: introduction of the ‘pseudo‘ UBO

On the 25th day of July 2018 the Implementation Act of the 4th Anti-Money Laundering (EU) Directive (the ‘4th AML Directive’) came into effect by amending the Money Laundering and Terrorist Financing (Prevention) Act (the ‘Wwft’) and the Implementation Decree Wwft 2018 (the ‘Decree’). The purpose of the 4th AML Directive is to further prevent abuse of the financial system, by registering who qualifies as an ultimate beneficial owner (‘UBO’). Read more