European Union sets new identity verification standards under AMLR

According to Biometric Update, the Authority for Anti‑Money Laundering and Countering the Financing of Terrorism (AMLA) has published its final report on draft Regulatory Technical Standards (RTS)[1].Biometric Update reports that the draft RTS aim to harmonize identity verification practices, ensuring that data collected during onboarding is consistent across Member States.[1]According to the outlet, the standards allow verification as presented in passports, national IDs or equivalent documents.[1] It adds that they also accept eIDAS electronic identification and trust services, including the upcoming European Digital Identity Wallets, provided they meet "substantial" or "high" assurance levels.[1]Biometric Update reports that the draft RTS has been submitted to the European Commission for adoption before publication in the Official Journal.[1] The outlet says that once in force, the rules will set a new baseline for identity assurance across the EU's financial and commercial sectors[1].According to identity verification firm Didit, the AMLR applies from 10 July 2027 and puts the anti-money laundering rules for businesses into one text that is directly applicable in every Member State.[2]Persona, another verification firm, writes that AMLA has been based in Frankfurt since July 2025[3]. Persona adds that starting in 2028, it will also directly supervise around 40 of the highest-risk cross-border financial groups.[3]