The European Banking Authority (EBA) has provided the European Commission (EC) with technical advice on the implementation of new anti-money laundering (AML) standards in the European Union. This step marks a transition from legislative planning to technical preparation as part of the rollout of the new Anti-Money Laundering Authority (AMLA).
According to the EBA, its recommendations focus on harmonizing customer due diligence procedures and beneficial ownership rules across all EU member states. The advice suggests clear criteria for identifying, verifying, and monitoring customers, aiming for consistency throughout the bloc. While firms are expected to comply with these standards by mid-2027, the EBA acknowledges potential challenges and proposes that high-risk business relationships be prioritized during this transition period. For non-high-risk relationships, a five-year transitional period is suggested.
The advice also outlines common methodologies for AML/CFT supervisory review and evaluation processes. Under this framework, AMLA will assess firms’ risk management systems using unified EU standards rather than national criteria.
In addition, standardized data collection and reporting requirements are recommended to facilitate centralized supervision. These measures include establishing common formats for collecting and sharing supervisory and transaction data between AMLA, national authorities, and Financial Intelligence Units.
Key dates in this transition include December 31, 2025—when AMLA is scheduled to assume responsibilities from the EBA—and early 2026 when it is expected to be fully established. New rules under AMLD6 and AMLR will take effect on July 10, 2027. By 2028, AMLA plans to directly supervise large or high-risk financial and non-financial entities operating across borders.
Consultations are ongoing regarding technical standards for know-your-customer processes, with additional consultations planned before July 2027.
The EBA emphasizes that banks should begin aligning their compliance policies with unified EU standards now instead of relying on country-specific approaches. The guidance urges institutions—especially those considered high-risk or operating internationally—to audit their technology and data systems in preparation for direct oversight by AMLA starting in 2028.
Banks are advised to use this period leading up to full implementation as an opportunity to update their customer due diligence practices, transaction monitoring systems, and risk assessment frameworks according to upcoming harmonized regulations.
