AMLA Executive Board member Derville Rowland warns that €647B in illicit funds flows through Europe each year, urging stronger, harmonised AML measures to tackle cybercrime, trafficking, and fraud

She highlighted how criminals increasingly exploit technology, cybercrime, and “crime as a service,” with drug trafficking, human trafficking, and fraud generating vast sums. Despite representing under 10% of the world’s population, Europe handles nearly a quarter of global illicit funds, led by Germany, the UK, and France. Rowland urged businesses to strengthen AML measures, including enhanced risk assessments, monitoring, and board preparedness. Her warning coincides with upcoming EU AML regulations banning large cash payments …