Regulatory Pressure Mounts as Europe Issues Over €36m in AML Fines

Enforcement Actions Intensify Across Europe

Vixio’s AML Outlook highlights nearly 30 enforcement cases across Europe in the past 12 months. Authorities targeted payment and e-money firms that failed to meet AML and counter-terrorism financing (CTF) requirements. Several institutions lost their licences, and others faced fines.

Key examples include:

• Germany’s BaFin fined Ratepay €25,000 in March 2025 over suspected AML failures.

• Estonia’s Money Laundering Data Bureau withdrew B2BX Digital Exchange OÜ’s licence in February 2025 for poor customer due diligence and risk management.

• Lithuania’s central bank revoked Foxpay’s licence in November 2024 for multiple systemic failures, including mismanagement of funds and conflicts of interest.

Compliance Shortfalls Come at High Cost

Vixio notes that AML compliance demands substantial investment – from transaction monitoring systems and staff training to robust customer verification processes. However, the cost of non-compliance is often far greater.

John Gidla, Head of Payments Compliance at Vixio, said:

“In addition to financial penalties, failing to prevent money laundering can severely damage a firm’s reputation, leading to loss of customers, partners and investor confidence.”

A Unified European Approach on the Horizon

Europe’s fragmented AML enforcement is changing. The new EU Anti-Money Laundering Authority (AMLA) aims to strengthen oversight and fill long-standing gaps. Regulators hope the central body will raise the standard for all EU members.

Companies must prepare now. They need strong KYC procedures, clear transaction monitoring, and effective reporting. Submitting suspicious activity reports (SARs) on time is critical.