Two-thirds of financial services firms will not be able to meet the requirements of the EU anti-money laundering (AML) package when it comes into force in July 2027. New research by PwC Luxembourg has found that most firms expect compliance pressures to create significant operational disruption, with data quality and customer due diligence rules highlighted as major concerns.
The researchers warned that geopolitical disruption is increasing the risks of, and opportunities for, financial crime. While the EU AML package is ambitious, it highlighted the widening gap between firms on schedule to implement it and those that will struggle to comply.
