Belgian financial institutions making good progress in the fight against money laundering, but readiness differs

Brussels, 19 May 2026 – PwC research into anti-money laundering readiness across 500+ organisations in 40 countries, including Belgium, reveals a widening readiness gap. The new European regulations - the ‘EU AML Package’ - coming into effect in July 2027 poses a new challenge for companies in scope, which anticipate compliance pressure, rising costs and operational bottlenecks. Only one-third of EU financial institutions expect to be ready, and almost half of Belgian respondents fear they will miss the deadline. “The AML landscape across the EU is entering a new phase, with regulatory ambition accelerating even as organisations continue to face operational and data challenges. Our findings show many institutions are still in the early stages of preparing for the new EU AML Package, with readiness varying widely across sectors and jurisdictions,” states Géraldine D'Argembeau, Partner and Head of Financial Crime at PwC Belgium.

Anti-money laundering (AML) efforts both in Belgium and at European level face increasing complexity, driven by evolving financial crime risks, growing regulatory demands, and the urgent need for digital transformation. Institutions are contending with rising compliance costs, operational bottlenecks in key areas such as customer due diligence (CDD), and persistent talent shortages, all amid a rapidly shifting regulatory landscape. Within the EU, the new AML Package marks the most significant regulatory overhaul to date, introducing a single rulebook, an EU-level supervisory authority, and far-reaching requirements. PwC launched its EMEA AML Survey 2026, a report building on insights from more than 500 institutions across 40 countries across EMEA region. The report highlights a sector under mounting pressure as it prepares for the most significant overhaul of AML regulation in over a decade. In the results, the responses of 19 Belgian financial institutions were included and analysed – bringing some differing and interesting views on how Belgian firms are handling the changing AML environment.

The EU AML Package deadline

While the introduction of a single EU rulebook and the new Anti-Money Laundering Authority (AMLA) mark a step change in regulatory ambition, progress toward compliance remains uneven, raising concerns about organisations’ ability to meet new requirements on time. Only one third of EU financial institutions expect to be ready for the EU AML Package by July 2027. While Belgian firms demonstrate greater preparedness compared to peers throughout the region, with fewer expecting to miss the 2027 compliance deadline, they still face significant challenges in implementation. ​

Operational challenges are already surfacing. Customer due diligence (CDD) has emerged as a key pressure point, with expanding data requirements exposing gaps in systems and processes. Around one third of institutions, whether in or outside of the EU, also expect compliance costs to increase by between 10 and 30 percent, straining resources further. Belgian financial institutions also report the challenge of rising AML compliance costs, with about three in five expecting increases of 10% or more. Only around one in four Belgian institutions have completed both an analysis and an impact assessment of the regulation, despite the primary compliance date approaching in July 2027.

Technological opportunities ​ ​ ​ ​

Technology is widely seen as an enabler, with 61% of banks and 57% of asset & wealth management (AWM) firms in the EMEA region planning to introduce new technologies in transaction monitoring. Belgian institutions are increasingly turning to technology to meet regulatory expectations. More than two thirds plan to invest at least 3% of their AML budget in digital tools over the next two years, and around one third expect to invest more than 5%. At the same time, many firms expect significant changes to their AML data infrastructure, pointing to the scale of transformation required to meet new reporting and monitoring expectations. While investment in AI and advanced analytics is accelerating, adoption remains uneven, with data quality, governance and regulatory uncertainty continuing to act as key constraints.

Data quality continues to be viewed as the most important barrier to advanced technology and AI adoption, cited by 89% of electronic and virtual payments firms, 64% of banks and insurance companies, and 52% of AWM firms in the EMEA region. In Belgium, almost 80% of institutions prioritise new technology investments in customer due diligence alongside transaction monitoring, risk scoring, screening, and remediation. This reflects a broad effort to modernise AML controls and meet evolving EU regulatory requirements.

Belgian institutions show growing interest in prioritising AI technologies, such as machine learning and agentic AI, for AML processes. However, readiness to implement the required human oversight under the new EU AML Package varies across firms.

More than one third of institutions anticipate major or complete overhauls to their data infrastructure, indicating a move toward large-scale digital transformation instead of incremental adjustments. ​

Tackle the gap

Early reporting exercises by the newly established Anti-Money Laundering Authority (AMLA) have already exposed significant data and process gaps among financial institutions. Outside the EU, regulatory fragmentation grows, widening the gap between regions and increasing complexity—something Belgian organisations must navigate carefully as they operate across multiple jurisdictions. ​

To bridge these gaps, around two thirds of Belgian institutions plan to increase internal resources, with roughly one third doing so across multiple functions. This comes despite ongoing shortages of AML specialists and expected staff turnover to the new AML Authority. Confidence in transaction monitoring is also limited: only about one in five institutions feel fully confident that their systems are fit for purpose, while the vast majority indicate that their systems require finetuning. Nearly half are planning system reviews in the near term. As cost and capacity pressures grow, outsourcing of know your customer (KYC) reviews and transaction screening is increasing. These developments require accountability and transparent processes that strengthen trust among clients and regulators alike.

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