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CySEC Urges Regulated Firms To Help Shape New EU AML Rules

by THEFUTURE.TEAM

July 15, 2026

The Cyprus Securities and Exchange Commission (CySEC) is encouraging regulated entities to participate in two public consultations launched by the European Anti-Money Laundering Authority (AMLA), as the European Union moves to strengthen and harmonise its anti-money laundering framework.

Covering draft technical standards, the consultations will help shape how suspicious activity is reported and how non-financial businesses are assessed for money laundering and terrorist financing risks across the bloc. For regulated firms, the outcome will define future compliance obligations.

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First Consultation Focuses On Suspicious Transaction Reporting

One consultation concerns the draft Implementing Technical Standards (ITS) under Article 69(3) of Regulation (EU) 2024/1624, which set out the format for reporting suspicious transactions and for submitting transaction records.

CySEC said the draft standards, supporting documents and consultation response form are available on AMLA’s website, with comments accepted until September 20, 2026.

AMLA will also host a public hearing on September 9 from 10:00 a.m. to 12:00 p.m. CEST.

Second Consultation Targets Non-Financial Sector Risk Assessment

Another consultation focuses on draft Regulatory Technical Standards (RTS) under Article 40(2) of Directive (EU) 2024/1640 (AMLD 6). The proposal introduces a common methodology for assessing the inherent and residual money laundering and terrorist financing risks of non-financial obliged entities.

Comments may be submitted until September 27, 2026, while a second public hearing is scheduled for September 10.

According to CySEC, the consultation is particularly relevant for non-financial entities under its supervision, including administrative service providers and crowdfunding service providers.

Toward A Harmonised EU Framework

According to AMLA, the proposed methodology would establish a consistent approach to assessing money laundering risks across all EU member states, allowing supervisors to evaluate comparable businesses using the same standards.

Feedback is also being sought on whether the reporting requirements are proportionate, practical and cost-effective, particularly for smaller organisations. Simplified reporting obligations are proposed for smaller entities, while supervisors would be able to rely on information already available to them instead of requesting duplicate data.

Implementation of the new framework is expected to begin in December 2028, with the first risk assessments under the harmonised system scheduled for 2029. Until then, national supervisors will continue applying their existing methodologies while preparing for the transition.

Businesses, supervisory authorities, financial intelligence units, industry bodies, academics and other stakeholders are encouraged by AMLA to submit feedback before the standards are finalised.

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Only 63.9% Of Young Cypriots Have Basic Digital Skills, Eurostat Finds

Cyprus continues to lag behind the European Union average in digital skills among young people, even as the bloc records steady progress in digital literacy. New Eurostat data released on Wednesday also show that Cyprus has the widest gender gap in the EU, with young women significantly outperforming young men.

Cyprus Falls Short Of The EU Benchmark

According to Eurostat, 63.9% of Cypriots aged 16 to 24 had at least basic digital skills in 2025, well below the EU average of 74.6%.

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Across the bloc, nearly three-quarters of young people have reached at least a basic level of digital competence, reflecting the growing importance of digital skills in education, employment and everyday life.

Nordic And Central European Leaders Set The Pace

Denmark recorded the highest share of digitally skilled young people, at 92.1%, followed by the Czech Republic with 91.7% and Malta with 91.5%.

At the other end of the ranking, Bulgaria and Romania were the only member states where fewer than 60% of young people had achieved at least basic digital skills, at 52.8% and 53.3%, respectively.

Women Outperform Men Across Most Of The Bloc

Eurostat’s figures also highlight a persistent gender gap across much of the EU. At the bloc level, 75.9% of women aged 16 to 24 possessed at least basic digital skills, compared with 73.3% of men. The same pattern was recorded in 22 member states, including Cyprus.

No country recorded a wider gender gap than Cyprus. Some 73.9% of young women had at least basic digital skills, compared with 55.1% of young men, a difference of 18.8 percentage points.

A Wide Gap With Policy Implications

The disparity is significant because digital skills have become increasingly important for access to education, employment opportunities and participation in a technology-driven economy.

For policymakers, the figures underline two challenges: raising overall digital proficiency while narrowing the gap between young women and young men. Slovenia recorded the second-largest gap in favour of women, at 11.6 percentage points, followed by Austria with 9.1 points.

By contrast, young men outperformed women in only five EU countries. The widest gaps in favour of men were recorded in Malta, where 93.6% of young men had at least basic digital skills compared with 89.1% of young women, and Romania, where the figures stood at 55.1% and 51.1%, respectively.