Vixio, a leading provider of regulatory intelligence solutions, is proud to announce its Anti-Money Laundering (AML) Outlook, which found that regulators are cracking down on money laundering weaknesses with severe consequences, totaling over €36m in fines from March 2024 to March 2025 in Europe alone.
Vixio’s AML Outlook examines the challenges of complying with AML requirements in jurisdictions around the world, outlines regulators’ efforts to thwart criminal activity, and considers how payments and gambling firms can prevent being caught up in money laundering scandals.
The report found that in the last year, in the European area alone, there have been around 30 enforcement actions from regulators fining payments and e-money firms for falling short in their adherence to AML/CTF rules.
Financial institutions found to have money laundering weaknesses face profound consequences, with prosecutors and regulators alike generally unwilling to be empathetic on this matter. For example:
In March 2025, Germany’s regulator, BaFin, fined Ratepay €25,000 over suspected money laundering.
In February 2025, Estonia’s Money Laundering Data Bureau revoked B2BX Digital Exchange OÜ’s licence for failing to implement proper customer due diligence, transaction monitoring and risk assessments.
The Bank of Lithuania, meanwhile, revoked Foxpay’s licence in November 2024 for systemic AML/CTF and governance failures, including fund mismanagement and conflicts of interest.
John Gidla, Head of Payments Compliance, Vixio, explains, “Although AML compliance involves significant costs for payments firms - including investment in transaction monitoring systems, customer due diligence (CDD) processes and ongoing staff training - the consequences of failure can be significant. 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. Maintaining a strong compliance framework is crucial for preserving trust and long-term business viability.”
Until now, the EU’s AML enforcement has been more fragmented, but the EU’s new Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) could be a significant step towards addressing AML enforcement and closing gaps that criminals have been exploiting for years.
Regulatory scrutiny means that firms need to implement know your customer (KYC) procedures, monitor transactions on their systems for suspicious activity and report concerns through suspicious activity reports (SARs) to the relevant authorities.