Dear AML professionals
Another week has come to an end, bringing with it key developments and insights in the world of financial crime compliance.
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Ever heard “culture eats strategy for breakfast”?
It’s especially true in AML.
You can have strong controls, clear policies, and all the right documentation. But if the culture doesn’t support speaking up, challenging decisions, or prioritising risk, none of it holds under pressure.
Most compliance failures don’t start with a bad policy.
They start when good people stop being heard.
→ It happens when teams flag concerns but leadership ignores them.
→ When compliance is asked to take onboarding shortcuts so they can accept the customer.
→ When risk is treated as a technicality instead of a business issue.
The uncomfortable truth is that most firms don’t have a strategy problem.
They have a culture problem.
And culture doesn’t change through policies. It changes through people who challenge what’s easy in favour of what’s right.
So if you’re that person - the one holding the line, asking the tough questions, pushing for accountability - you’re already doing the hard work.
Keep doing it.
Because culture doesn’t just eat strategy. It eats compliance too.
Here are this week’s AML/CFT highlights:
EBA Report on Tackling Money Laundering and Terrorist Financing Risks in Crypto-Asset Services
The European Banking Authority (EBA) published a Report on tackling money laundering and terrorist financing (ML/TF) risks in crypto-asset services, including issuance, trading, and service provision. The Report draws on lessons learnt from recent supervisory cases across the EU and highlights how competent authorities can strengthen their approaches to supervision in this fast-evolving sector.
EBA Report on Competent Authorities’ Approaches to the AML/CFT supervision of Banks
The European Banking Authority (EBA) has published a report reviewing how supervisory authorities across all EU/EEA countries have responded to its AML/CFT recommendations over the past six years. The report reflects follow-up actions taken after in-depth assessments of 40 national authorities’ approaches to supervising money laundering and terrorist financing risks in banks. It highlights progress made and areas that still require improvement in AML/CFT supervision.
In case you missed this week’s LinkedIn posts:
Monday 6th October: What is a money laundering typology?
Tuesday 7th October: Our Monthly AML News and Updates Newsletter
Wednesday 8th October: Often, when conducting CDD everything is perfect on paper.
Friday 10th October: The more I step outside my comfort zone, the more opportunities I create.
That’s all for this week. Feel free to contact us at info@amlcube.com and tell us what future subjects you would like us to cover in future editions.
And if you are wondering who we are, AML Cube and its associates can assist you with:
AML Compliance
Sanctions Compliance
MiCA Regulations
Cybersecurity / DORA Compliance
Visit www.amlcube.com to learn more about what we do.
Best regards,
Anna Stylianou