The 4th EU Money Laundering Directive (4MLD) is designed to bring a more robust risk-based approach to the prevention of money laundering and terrorist financing.
As stipulated by the EU, the 4MLD will be finally adopted by all member states on the 26th June 2017. Gibraltar, being a member of the EU, will also be adopting this Directive and it has already been transposed into local legislation.
The 4MLD brings along several important changes to the way that WaveCrest can do business. It also makes important changes to the way our products can be sold and used.
In line with the directive, the maximum load for an unverified cardholder across all cards is restricted to EUR 250; and the maximum unload through point of sale transaction and ATM withdrawal for an unverified cardholder across all cards is restricted to EUR 100.