Balancing Financial Intelligence and Personal Data Protection

In a response to GCFFC open letter to AMLA, Ms. Bruna Szego, Chair of the Anti-Money Laundering Authority (AMLA), addressed the ongoing dialogue regarding the interplay between EU AML/CFT obligations and the Data Protection framework.

Ms. Szego affirmed that combating financial crime and safeguarding personal data are complementary priorities. Building an effective EU system against money laundering and terrorist financing requires personal data treatment that is clear, proportionate, and legally stable.

Key Highlights from AMLA’s Response

• Joint Guidelines with EDPB: AMLA and the European Data Protection Board (EDPB) have agreed to co-develop Joint Guidelines regarding partnerships for information sharing under Article 75 of the AML Regulation.

• Consistent Supervisory Expectations: This joint work stream aims to establish clear, coherent supervisory expectations for sharing information while respecting Data Protection standards.

• Harmonised EU Implementation: A primary priority for AMLA is ensuring harmonised implementation and consistent application of Data Protection rules across all EU Member States in the AML/CFT context.

• Multi-Stakeholder Collaboration: AMLA reaffirmed its commitment to active engagement with key stakeholders—including industry, Financial Intelligence Units (FIUs), civil society, and Data Protection Authorities (DPAs)—as the new framework rolls out.

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"A robust and effective EU system for preventing and combating money laundering and terrorist financing must rest on a clear, proportionate and legally stable treatment of personal data."

— Ms. Bruna Szego, Chair of AMLA

The GCFFC welcomes AMLA’s collaborative approach and looks forward to continued dialogue as these crucial guidelines are developed.

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