Tuominen urges stronger bank defenses against AI-enabled crime
Anneli Tuominen, a European Central Bank (ECB) Supervisory Board member, urged banks to strengthen operational resilience against technology-enabled financial crime. At an AML readiness conference in Helsinki, she called for sustained AI investment and stronger governance.
Cross-border crime meets centralised oversight
Tuominen put annual global money laundering at 2-5 percent of GDP, or about $2.4-5.9 trillion; EU authorities seize less than 2 percent of annual organised-crime proceeds.
She linked laundering to legal, credit, liquidity and reputational risks threatening bank viability.
The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) began operations in July 2025.
EU anti-money laundering rules become fully binding in July 2027; direct AMLA supervision of around 40 high-risk groups or entities starts in January 2028.
AMLA also coordinates financial intelligence units and takes over single-rulebook tasks from the European Banking Authority.
The ECB and AMLA agreed cooperation arrangements in mid-2025.
Digital vulnerabilities cross supervisory boundaries
The ECB does not supervise AML compliance but uses findings in licensing, qualifying holdings, fit and proper reviews and annual prudential assessments; AML failures can underpin licence withdrawals.
Tuominen said digital onboarding, deepfakes, synthetic identities, crypto-assets and real-time payments complicate controls.
Cloud-provider concentration and IT changes add operational risks.
Supervisors need faster data analysis and technological expertise, while banks need stronger controls over software development and third-party patches.
Technology alone is not enough
Tuominen places governance alongside sustained, multi-year AI and cybersecurity investment.
She calls for digitally competent boards and clear accountability for AI-driven decisions.
Her message to supervisors is equally direct: upgrade tools and staff expertise, prioritise risks and act faster.