6th September 2018

5AMLD - 5th Anti-Money Laundering Directive: Prepaid Cards

5AMLD – 5th Anti-Money Laundering Directive: Prepaid Cards

After 4MLD cut the monthly transaction limit on prepaid cards to €250 (a measure to combat terrorist financing), 5MLD – 5th EU Anti-Money Laundering Directive sets an even lower limit of €150 – this limit also applies to the amount which can be stored on the cards. Similarly, online transaction limits are reduced to €50. Christopher Baines the Head of Compliance at Pockit said: “the directive is definitely a step in the right direction, it reduces the number of options for criminals”.  

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