The EU’s new Anti-Money Laundering Authority (AMLA) is now operational, marking the most significant overhaul of EU financial crime rules in a generation.
Key changes for neobank customers: the CDD threshold for occasional transactions drops from €15,000 to €10,000 under AMLR 27 (full application July 2027). Expect more identity verification requests on larger transactions.
AMLA can levy fines up to 10% of annual turnover on non-compliant institutions. Revolut was fined €3.5M in 2025 for AML monitoring failures — under AMLA, equivalent failings could attract far larger penalties.
What it means for users: More frequent KYC refresh requests from your neobank in 2026–2027. This is a compliance requirement, not harassment.
Source: Moody's KYC