EDPB and AMLA to develop Joint Guidelines on partnerships for information sharing

The European Data Protection Board (EDPB) and the Anti-Money Laundering Authority (AMLA) are working together to bring greater clarity to a question of growing importance for industry and authorities alike: how to share information to fight financial crime while protecting personal data. The fight against financial crime depends on cooperation, and information sharing can help detect and prevent money laundering and terrorist financing. 75 of the AML Regulation makes this possible, allowing companies and professionals covered by anti-money laundering rules to share information with each other and with public authorities, within clear limits. Sharing information of this kind means processing personal data, which is why data protection safeguards are essential. The Joint Guidelines, developed by the EDPB and AMLA, will set out in practical terms how partnerships can be built so that effective information sharing and the protection of personal data go hand in hand. This will give everyone involved, from companies and supervisors to FIUs and data protection authorities, more clarity on how to set up successful partnerships.