Navigating the EU’s new AML regime
Strengthening compliance against financial crime
The EU’s fight against financial crime was marked by the introduction of a significant overhaul to the AML compliance landscape. The new AML Regulation (AMLR) establishes a single rulebook, harmonising AML regimes across all EU countries, and imposes stricter standards on businesses to combat corruption, fraud, and illicit finance.
The AMLR expands its scope beyond financial institutions to include previously unregulated entities such as high-value goods traders, lowers thresholds for customer due diligence and cash transactions, and demands transparency, enhanced internal controls and governance, robust transaction monitoring, and comprehensive reporting protocols, inter alia.
Non-regulated businesses face significant compliance shifts and fines of up to €10 million or 10% of turnover for non-compliance. Businesses must act swiftly to meet obligations, avoid penalties, and safeguard their reputation.
Deloitte is here to guide your organisation through this complex regulatory landscape.Our team of experienced professionals offers deep market knowledge and extensive operational transformation expertise to support your organisation through a seamless transition to the new AML requirements.
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