Keeping up with AML and KYC Compliance in the EU

As financial firms embrace tech innovation to deliver their services, money laundering schemes are following suit, becoming more complex and harder to detect in the process. 

In response, the EU is introducing a legislative package focused on anti-money laundering (AML) and countering the financing of terrorism (CFT). This is likely to impact already stretched compliance teams and highlights the need to invest in enhancing their capabilities.

 The package includes the establishment of an EU AML supervisor that will make changes to the existing AML Framework, including customer due diligence and beneficial ownership rules. Work will also continue on an EU AML Authority (AMLA) which aims to be operational in 2025.

At Albany Beck, our AML & KYC Academy is committed to equipping emerging talent in the financial services sector with the knowledge and practical skills to deliver compliance that protects your firm and its customers.   
We can provide you with experts who will have an immediate impact and become key members of your team, ensuring you stay on the right side of regulations. To discuss how we can support your firm, get in touch with Emer McPartland.

To explore the evolving AML & KYC regulatory landscape and how the Central Bank of Ireland is tightening its supervision, read its 2024 Regulatory and Supervisory Outlook.