The LAPADA 100
Learn more about this unique opportunity for LAPADA members.
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Understanding the 5th Anti-Money Laundering Directive.
We share our findings and present an introduction based on currently available literature and legislation.
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I. Overview

Rising fraud and financial crime has given rise to new European legislation. The 5th Anti-Money Laundering Directive aims to bring greater levels of transparency to high-value transactions taking place within the Art World which is considered vulnerable.
As of 2018, global financial crime is estimated to account for 1.4 trillion in lost turnover, with 47% of businesses a victim of financial crime in the last 12 months. This is almost half in Western Europe at 49%.
Revealing the true cost of financial crime, Thomson Reuters, 2018
Fraud costs the UK economy £193 billion a year - equating to more than £6,000 lost per second every day.
UK Fraud Costs Measurement Committee, UKFCMC
You are now more likely to be a victim of fraud than any other type of crime.
Office for National Statistics, Crime in England and Wales: Year ending June 2018
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II. ArcartaPay will be speaking at the annual LAPADA Conference at the House of Lords
Browse the abbreviated Keynote or download the complete presentation below.
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Further reading
What does KYC (Know Your Customer) mean?
How do I correctly identify my client?
What happens if my client is not a person but a trust, foundation, museum or business?