How the EU's new AML regulation will change personal data processing
The European Union has adopted a new anti-money laundering regulation that will affect how organizations collect, store, and process personal data as part of their compliance obligations.
Why this matters: AML rules sound like a finance problem. They are actually a data problem for millions of ordinary people. Banks and other obliged entities will have to collect more information about who you are, where your money comes from, and who you do business with. That data does not disappear after the check is done. It sits in systems, gets shared with authorities, and creates records about your financial life you never explicitly agreed to hand over. The question is whether the new regulation draws a clear line between stopping financial crime and building surveillance infrastructure around everyday transactions.
Who should care: Lawyers · Compliance · General readers · Privacy officers · Policy
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