TY - GEN
T1 - The Data Protection Implications of the EU AML Framework
T2 - 10th Annual Privacy Forum, APF 2022
AU - Kindylidi, Iakovina
N1 - Publisher Copyright:
© 2022, Springer Nature Switzerland AG.
PY - 2022
Y1 - 2022
N2 - The tension and the need for alignment between the data protection and AML/CFT framework has been pointed out by scholars and authorities since the first AMLD, over thirty years ago. Despite the criticism, none of the competent authorities has issued a pragmatic guidance aiming at consolidating the two regimes. This lack of regulatory clarity together with the fragmented implementation and interpretation of the AMLD across the EU are aggravating the challenges of the obliged entities. At the same time, the adoption of emerging technologies, such as AI for AML/CFT purposes, is further highlighting the need for harmonising the various conflicting obligations to avoid duplication and gold-plating practices. Following a doctrinal approach of primary sources, the present aims to contribute to the discussion towards a reconciliation between the data protection and AML/CFT framework from the perspective of the obliged entities, considering the recent regulatory developments, namely the AML Package and the AIA Proposal, the relevant case law of the EUCJ, and the current literature.
AB - The tension and the need for alignment between the data protection and AML/CFT framework has been pointed out by scholars and authorities since the first AMLD, over thirty years ago. Despite the criticism, none of the competent authorities has issued a pragmatic guidance aiming at consolidating the two regimes. This lack of regulatory clarity together with the fragmented implementation and interpretation of the AMLD across the EU are aggravating the challenges of the obliged entities. At the same time, the adoption of emerging technologies, such as AI for AML/CFT purposes, is further highlighting the need for harmonising the various conflicting obligations to avoid duplication and gold-plating practices. Following a doctrinal approach of primary sources, the present aims to contribute to the discussion towards a reconciliation between the data protection and AML/CFT framework from the perspective of the obliged entities, considering the recent regulatory developments, namely the AML Package and the AIA Proposal, the relevant case law of the EUCJ, and the current literature.
KW - AI
KW - AML
KW - Data protection
UR - http://www.scopus.com/inward/record.url?scp=85130934964&partnerID=8YFLogxK
U2 - 10.1007/978-3-031-07315-1_3
DO - 10.1007/978-3-031-07315-1_3
M3 - Conference contribution
AN - SCOPUS:85130934964
SN - 9783031073144
T3 - Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
SP - 37
EP - 49
BT - Privacy Technologies and Policy - 10th Annual Privacy Forum, APF 2022, Proceedings
A2 - Gryszczyńska, Agnieszka
A2 - Polański, Przemysław
A2 - Gruschka, Nils
A2 - Rannenberg, Kai
A2 - Adamczyk, Monika
PB - Springer Science and Business Media Deutschland GmbH
Y2 - 23 June 2022 through 24 June 2022
ER -