From compliance to financial crime fighting - the shift from ticking boxes to tracking effectiveness

During the first content block of our Fraud and Compliance track at our flagship conference in Brussels this year, we heard from industry experts how AMLA, data and AI are reshaping the compliance function, during a keynote: "The Latest Trends in Compliance: AML and Sanctions and Screenings", delivered by Wendy de Meyer, Deputy Chief Compliance Officer at Belfius. Which was followed by a keynote: AMLA and The Supervisory Shift: What it means for banks and fintechs", delivered by Charlotte le Beau de Hemricourt, Seconded National Expert at AMLA, The EU Anti-Money Laundering Authority. Which was followed by a panel session: “Financial Crime, Regulation and Relevance: Writing the Next Chapter for Compliance”, moderated by Wendy de Meyer with panel members: Charlotte le Beau de Hemricourt Daniël Meel, Head of Innovation and Design - Detecting Financial Crime, ABN AMRO Marie-France de Pover, General Manager, Director Group Compliance, KBC Group and Anton Wilsens, Managing Partner, Kyndryl As you can imagine, the sessions were packed with insights which we summarised in a (longer than usual) blog on our website here: https://thebankingscene.com/opinions/... In this episode, Andrew and Rik discuss the session and explore why short-term complexity may increase even if long-term harmonisation helps, and why the biggest challenge may be cultural rather than technological. They also dig into how AI could push banks toward better data consistency, fewer silos, and a more effectiveness-driven compliance function. Highlights include: 00:00 Intro and why a long summary still matters for two keynotes and a panel 01:17 Short term complexity versus long-term simplification 02:23 Local supervisory cultures still shaping compliance 03:13 Moving from controls existing to controls being effective 05:47 - KPIs shifting from regulatory completion to financial crime impact 07:42 - Banks already have data, but silos block its value 09:50 - How AI may force banks to break down data silos 13:50 - Reframing compliance as financial crime fighting 16:10 - Reusable digital ID and KYC frameworks 18:29 - Closing thoughts on collaboration