AMLD6 and AML 2024 package: obligations, compliance and KYC/KYB solutions

Background: the fight against money laundering

Money laundering and terrorist financing remain major threats to the financial sector. To strengthen security and harmonize practices, the EU published in June 2024 one AML package including:

• AMLD6 — 6th anti-money laundering directive
• AMLA/AMLR Regulation 2024/1624 — creation of the European Anti-Money Laundering Authority
• Regulation on AML/CFT obligations for private entities

The objective: to standardize obligations and strengthen control over financial flows.

AMLD6: main obligations

• Broad definition of money laundering offences
• Increased accountability for high-risk transactions
• Ongoing monitoring and mandatory reporting
• Penalties in proportion to turnover in case of non-compliance

Businesses need to be able to detect, report, and prevent illicit flows effectively.

AMLA/AMLR regulation: role of the European authority

THEAMLA becomes the central regulator for:

• Oversee the implementation of AMLD6 and regulations
• Harmonize compliance practices
• Issue technical recommendations for businesses
• Monitoring cross-border entities

The AMLR regulation details the obligations for private entities:

• KYC/KYB check
• Identification of beneficial owners
• Automated monitoring systems and alerts

Concrete impacts for businesses

• Reinforced verification of customers and businesses
• Real-time transaction monitoring
• Reporting to competent authorities
• Ongoing management of beneficial owners
• Financial fraud prevention and detection

Risks of non-compliance

• Penal fines and sanctions
• Loss of license or restriction of market access
• Significant reputational impact
• Increased risk of fraud and illegal transactions

Technological solutions

Automated KYC/KYB verification : identity documents, official registers, beneficial owners.
Continuous monitoring and anti-fraud AI : transaction analysis, alerts and risk scoring.
Reporting and archiving : generation of compliant reports, secure and traceable archiving.
Seamless integration : fast and compliant onboarding, optimized user experience.

Benefits for businesses

• Full compliance with AMLD6 and AMLR
• Reducing financial and reputational risks
• Optimized onboarding and internal control processes
• Strengthened auditability and traceability
• More effective fraud detection and prevention

Dataleon: partner for AML compliance

Dataleon offers:

• Automated KYC/KYB verification
• Fraud detection via AI and biometrics
• Management of beneficial owners
• Reporting and compliant archiving
• Fast integration into existing workflows

As a result, businesses remain compliant while providing a secure and seamless customer experience.

Conclusion

The AML 2024 package and AMLD6 represent a major change for European businesses.
KYC/KYB automation, continuous monitoring, AI and biometrics are becoming Indispensables to remain competitive, secure and compliant.