EU Financial Institutions Face Challenges in Complying with New AML/CFT Requirements
Most EU financial institutions are in the early preparation stage to comply with new anti-money laundering (AML) and countering financing of terrorism (CFT) legislation requirements.
According to the Deloitte report "Navigating the EU AML/CFT Landscape", conducted in 20 countries, including Romania, significant investments in technology, personnel, and training are needed to align with the new European framework by the July 2027 deadline.
- 84% of respondents have only just started preparing for the "EU AML/CFT Package", which includes regulations and directives to transform AML/CFT supervision.
The majority of respondents are in the early stages of preparation, indicating a need for significant investment to meet the new requirements.
Author's summary: EU financial institutions face challenges in complying with new AML/CFT requirements.
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