Question

according to the European union's fourth directive the threshold for the entities obliged to report suspicious transactions decreased to

Answer 1

According to the European union's Fourth Directive, the threshold for the entities obliged to report suspicious transactions decreased to EUR 10,000.

What is the EU's Fourth Directive?

The EU's Fourth Directive is an anti-money laundering directive aimed at:

• Combating money laundering

• Financing of terrorism
• Preventing financial market abuse.

The Fourth Directive requires financial traders to conduct customer due diligence for transactions of EUR 10,000 or more.

Formerly, in the Third Directive, the threshold was EUR 15,000 or more.

Thus, according to the European union's Fourth Directive, the threshold for the entities obliged to report suspicious transactions decreased to EUR 10,000.

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