A new era for the EU’s AML rules, with more common requirements
AMLR, Regulation (EU) 2024/1624, starts to apply on 10 July 2027, with limited exceptions from 10 July 2029. It raises the requirements for how up-to-date and auditable customer data needs to be, particularly for banks and other organisations covered by the AML framework.
The requirements for data quality and data updates are becoming clearer.
AMLR tightens and harmonises risk assessment, customer due diligence and ongoing monitoring across the EU. The work remains risk-based, but the requirements for data quality and data updates become clearer.
