PwC Survey Highlights Growing AML Compliance Pressure

On Tuesday 21 April 2026, PwC Luxembourg published its EMEA AML Survey 2026, showing that financial institutions across Europe, the Middle East and Africa (EMEA) are preparing for substantial impacts from new anti-money laundering (AML) requirements over the next two years.

According to the report, more than half of institutions expect either a “significant” impact, requiring more than 20% additional AML capacity, or a “strong” impact, requiring between 10% and 20% additional capacity, while around one-third anticipate compliance costs to increase by 10% to 30% and 40% identify customer due diligence requirements as overly rules-based and a key operational bottleneck.

In the European Union (EU), preparations for the EU AML Package risk falling behind at this stage, with only around one-third expecting to be ready by the July 2027 deadline.

Overall, the findings indicate a widening readiness gap at a critical moment for the financial sector.

Based on insights from more than 500 institutions across 40 countries, the report highlighted increasing pressure on the financial sector as it prepares for major AML regulatory changes, with progress towards compliance remaining uneven.

The data showcased that the operational challenges are emerging, particularly in customer due diligence, where rising data requirements expose gaps in systems, while around one-third of institutions expect compliance costs to increase by 10% to 30%.

Outside the EU, confidence in existing AML frameworks is lower, with only 10% to 12% of banks and asset managers, and 7% of insurance firms, viewing current rules as effective. According to the survey, for firms operating across multiple jurisdictions, this difference creates additional compliance challenges at a time when internal resources are “already under strain”.

At the same time, data showed that many firms expect major changes to their AML data infrastructure, reflecting the scale of transformation required to meet new reporting and monitoring requirements. While investment in artificial intelligence (AI) and advanced analytics is increasing, adoption remains uneven, with data quality, governance and regulatory uncertainty continuing to act as key constraints.

Gianfranco Mautone, Partner and EMEA Anti-Financial Crime Leader at PwC Switzerland, co-chair of the EMEA AML Survey, said: "From a wider EMEA perspective, the gap in supervisory expectations is becoming more pronounced. While the EU is moving towards greater harmonisation, many neighbouring jurisdictions are evolving at a different pace, creating significant complexity for cross-border institutions. This affects not only compliance but also how firms organise operations, invest in technology and manage risk across diverse markets. A coordinated approach to data, analytics and governance will be essential for firms that need to demonstrate effectiveness across multiple regulatory environments, not only within the EU."

Michael Weis, Anti-Financial Crime Leader at PwC Luxembourg and co-chair of the survey, added: "The AML landscape across the EU is entering a new phase, with regulatory ambition accelerating even as firms continue to face operational and data challenges. Our findings show that many institutions are still in the early stages of preparing for the EU AML Package, with readiness varying widely across sectors and jurisdictions. As implementation progresses, the key challenge will be whether firms can translate the new rulebook and related technical standards into scalable operating models supported by strong data and technology foundations."