Digital & Technologie
EU to Guide Data Sharing for Crime Fighting
The European Data Protection Board (EDPB) and the new EU Anti-Money Laundering Authority (AMLA) are collaborating to develop joint guidelines. The guidance will clarify how financial institutions can share personal data to combat money laundering and terrorist financing while complying with strict GDPR privacy rules. This initiative aims to provide legal certainty for the financial sector, which often faces a conflict between privacy obligations and anti-financial crime requirements. The guidelines will seek to balance the right to data protection with the public interest in preventing illicit financial flows.
EU bodies are creating rules to balance privacy rights with the need to share data to fight crime.