George Filippakis – A multidiscliplinary approach to Law, Finance and Technology

Outsourcing AML Functions Under the EU AML Framework: A Practical Guide for Obliged Entities

Outsourcing has become a defining feature of modern compliance operating models. Banks, payment institutions, crypto-asset service providers (CASPs), investment firms, e-money institutions, insurers and other regulated entities increasingly rely on third-party providers for onboarding, screening, KYC remediation, sanctions filtering, transaction monitoring technology, adverse media checks and other compliance-related functions. The reasons are obvious: scaling compliance…

AMLA Issues Consultation on Customer Due Diligence: What Financial Institutions Need to Know

The newly formed Anti-Money Laundering Authority (AMLA) has published one of its first major consultation papers, seeking industry input on draft Regulatory Technical Standards for Customer Due Diligence under the new EU Anti-Money Laundering Regulation. Released on 9 February 2026, this consultation marks a critical step in transitioning from the directive-based framework to directly applicable…

CJEU Rules Corporate Entities Can Be Sanctioned for AML Breaches Without Prior Individual Liability Findings (Case C-291/24)

The Court of Justice of the European Union has delivered an important judgment clarifying how Member States can hold financial institutions accountable for anti-money laundering violations. In Steiermärkische Bank und Sparkassen AG (Case C-291/24), decided on 29 January 2026, the Court addressed whether national courts can impose additional procedural hurdles before sanctioning legal entities for…

Greece Introduces a Single Permit for Third-Country Workers: What the New Law Means for Employers and Foreign Personnel

Introduction: A Major Shift in Greek Labour Migration Law Greece is preparing a significant reform of its labour migration framework with a draft bill transposing Directive (EU) 2024/1233 on a single application procedure for a single permit for third-country nationals. The bill, currently under public consultation, aims to simplify the procedure for legally employing non-EU…

EBA advises on the new AML regime: how compliance teams should start preparing

The European Banking Authority’s (EBA) recent response to the European Commission’s Call for Advice marks a significant step toward operationalising the new EU Anti-Money Laundering Authority (AMLA). While this may sound like another layer of bureaucracy, for compliance professionals across banks, investment firms, and payment institutions, the implications are real and immediate. The document provides…

A roadmap for obliged entities under the new EU AML framework

The European Union’s new AML package, which consists of Regulation (EU) 2024/1620 (AMLAR), Regulation (EU) 2024/1624 (AMLR), and Directive (EU) 2024/1640 (AMLD), marks the most far-reaching reform of Europe’s anti-money laundering rules to date. Its impact will be felt across a wide spectrum of financial institutions, including banks, investment firms, insurers, payment institutions, crypto-asset service…

George Filippakis

Attorney at Law