George Filippakis

A multidiscliplinary approach to Law, Finance and Technology

Category: Anti-Money Laundering

  • 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…

  • 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…

  • Instant payments equals instant risks and why real time monitoring is now essential

    The EU is making instant payments a standard feature of the financial system. For customers, that’s a win given money moves in seconds across borders. But for banks and regulators, it’s also a new headache. Instant payments don’t just speed up legitimate transfers. They also give criminals the ability to move illicit funds faster than…

  • What AMLA means for the crypto industry

    On 1 July 2025, the new European Anti-Money Laundering Authority (AMLA) officially launched its supervisory powers. Barely a month into its mandate, AMLA made its stance on crypto crystal clear: firms active in the sector must put strong anti-money laundering (AML) and counter-terrorist financing (CFT) safeguards in place from day one. This isn’t just a…

  • SupTech in AML/CFT supervision: big potential, but supervisors need more support

    The European Banking Authority (EBA) has just published its latest report on the use of technology in anti-money laundering (AML) and countering the financing of terrorism (CFT) supervision (EBA/Rep/2025/23), often called SupTech. The timing couldn’t be more relevant. Across Europe, national supervisory authorities are facing an avalanche of new responsibilities under the EU’s updated AML…

  • EBA’s fourth opinion on ML/TF risks: key takeaways and what banks need to know

    Every two years, the European Banking Authority (EBA) takes a deep dive into the risks of money laundering (ML) and terrorist financing (TF) across Europe’s financial sector. The latest Opinion, released in July 2025, paints a picture that’s both familiar and fast-changing: technology is driving innovation, but it’s also opening new doors for criminals. So…