Increases in financial crime and
the rise of digital banking and
fintech services have created
ideal conditions for expanded
Anti-Money Laundering (AML)
and Know Your Customer (KYC)
requirements.
Introduction
With countries around the world adjusting their
financial crime laws, there’s a lot of pressure on global
enterprises to keep up. Compliance can be expensive,
but noncompliance costs can expand beyond fines to
include reputational damage and lost trust.
Organizations that conduct digital identity verification
to meet AML and KYC requirements rely on agile
technology that adapts to regulatory shifts without
losing operational momentum.
Regulatory Spotlight:
AMLA
The new European Anti-Money Laundering
Authority (AMLA) aims to combat financial
crime and counter the financing of terrorism
in the EU
The regulatory body was expected to
start operating in 2025 and become fully
functional by 2028
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Trulioo — White Paper