New EU anti-money laundering rules: what changes for companies from 2027

A EUR 10,000 cash payment limit, stricter customer checks and more consistent rules across Europe: from July 2027, anti-money laundering compliance in the EU will change substantially. The new requirements affect more than banks and financial service providers. Companies outside the financial sector also need to assess which requirements will apply to them.

Consistent rules instead of national differences

For many companies, preventing money laundering is already part of everyday business. However, while European requirements have largely been implemented through national legislation so far, the new EU Anti-Money Laundering Regulation (AMLR) creates a largely uniform legal framework.

Regulation (EU) 2024/1624 generally applies directly in all EU Member States from 10 July 2027. It is complemented by further European legislation and the new Anti-Money Laundering Authority (AMLA).

The aim is to combat money laundering and terrorist financing more effectively and make requirements across Europe more consistent.

The key changes at a glance

Cash payments above EUR 10,000 will be prohibited

One of the most visible changes concerns cash payments. From 10 July 2027, traders and service providers may generally only accept or make cash payments for goods or services up to EUR 10,000. Several payments that appear to be linked are also added together.

The rule generally also applies to companies that are otherwise outside the scope of anti-money laundering obligations. Member States may set lower limits. Exceptions apply to certain situations, such as payments between private individuals acting outside a professional capacity.

Customer data must be updated regularly

For obliged entities, the deadlines for updating customer data will become more specific. For business relationships subject to enhanced due diligence, information must be reviewed and updated at least annually. In other cases, the maximum interval is generally five years.

If new relevant information emerges in the meantime, an earlier update may be required.

Greater focus on beneficial owners

When carrying out customer due diligence, companies must continue to identify the natural persons behind a legal entity. For corporate entities, direct or indirect ownership interests of 25 per cent or more are generally relevant under the new regulation. Control through other means may also result in a person being classified as a beneficial owner.

When establishing new business relationships with legal entities subject to registration requirements, obliged entities must also obtain valid proof of registration or a current extract from the beneficial ownership register.

More responsibility at management level

Anti-money laundering compliance will also be embedded more firmly in organisational structures. Under Article 11 of the AMLR, a member of the management body in its management function must be responsible for ensuring compliance as the compliance manager.

This clarifies who at management level is responsible for implementing and overseeing anti-money laundering compliance.

What does this mean for companies?

The new requirements particularly affect activities involving the collection of customer data, the assessment of business relationships and the monitoring of transactions.

For obliged entities, this may mean additional requirements for existing KYC (Know Your Customer) processes, risk assessments and internal control systems.

Regular data updates can create considerable organisational work, especially where there are large customer bases. Checks on politically exposed persons (PEPs), sanctions screening and the handling of suspicious transactions add to this workload.

Knowing the new requirements is therefore only part of the task. Companies must also ensure that checks are documented in a traceable way, deadlines are met and responsibilities are clearly assigned.

Why early preparation pays off

Companies still have time to review their existing procedures before the general application date in July 2027.

A useful first step is to take stock: which entities and business areas are directly affected? Which customer data is already available? Where are there gaps in checks, documentation or responsibilities?

This assessment provides a basis for prioritising the necessary adjustments. Standardised processes and digital solutions can help handle recurring checks more efficiently and support employees in meeting regulatory requirements.

Greater clarity, but also more work to do

The new EU Anti-Money Laundering Regulation harmonises key requirements across Europe. The EUR 10,000 cash payment limit, more specific update intervals and new organisational requirements show why companies should address the new legal framework in good time.

Companies that use the remaining time to review data, responsibilities and due diligence processes can lay the foundations for compliance with the new requirements while making their anti-money laundering activities more efficient over the long term.

In day-to-day operations, reliable and traceable handling of recurring checks will also be essential.