European Union: Money Laundering

The European Commission has published its first report on Directive (EU) 2019/1153, mapping the evolving framework for law-enforcement access to financial intelligence across the EU. While the report defers decisions on expanding data access, it signals a shift toward faster, more standardized cross-border information sharing through interconnected account registers and structured transaction formats. Financial institutions face mounting pressure to ensure their data governance, production capabilities, and

The European Commission has released its first report on the use of financial information by law enforcement authorities, nearly two years behind schedule. While creating no immediate new obligations for financial institutions, the report clearly signals a future direction: networked account registers, standardized transaction data, and faster cross-border inquiries. As data architecture becomes increasingly integrated while the legal framework remains fragmented, financial institutions must understand the

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Die BaFin hat ihre aufsichtlichen Anforderungen an die Nutzung virtueller IBANs verschärft und fordert strengere Compliance-Kontrollen zur Bekämpfung von Geldwäsche und Terrorismusfinanzierung.

Germany's financial regulator BaFin has issued new supervisory guidance on virtual IBANs, addressing concerns about transparency in payment flows and beneficial ownership while affirming that vIBANs remain legitimate payment infrastructure. The communication requires firms to demonstrate that their governance, customer transparency and monitoring arrangements have kept pace with technological innovation, particularly in relation to anti-money laundering and counter-terrorist financing controls.

The Central Bank of Ireland (“CBI”) has published the second edition of its Payments and E-Money Newsletter (the “Newsletter”), providing an update on its supervisory priorities, regulatory developments and key focus areas for payment institutions and electronic money institutions.

On 11 June 2026, the Court of Justice of the European Union (the “Court”) delivered its judgment in Case C-81/24, Jenec. The case concerned the relationship between the right of access to a payment account with basic features under Directive 2014/92/EU (the “Payment Accounts Directive”) and the AML/CFT obligations imposed on financial institutions under Directive (EU) 2015/849 (the “AML Directive”).

Ireland's Department of Finance has released its third National Risk Assessment on Money Laundering, Terrorist Financing and Proliferation Financing, identifying very significant risks in retail banking, digital banking, crypto-assets, and payment institutions. The assessment is accompanied by a comprehensive 30-Point Action Plan designed to strengthen Ireland's financial crime response framework over the next 18 months through enhanced regulatory oversight, beneficial ownership transparency, and sector-spe

The Central Bank of Ireland has released its comprehensive Annual Report 2025, detailing achievements across monetary policy, financial stability, and regulatory supervision while outlining strategic priorities for 2026. Key developments include the implementation of the Consumer Protection Code 2025, enhanced operational resilience requirements, and advancing climate risk integration across the financial sector.