The great and the good of Europe’s financial, legal and political elite gather in Dublin this morning, not to talk markets or macroeconomics, but to confront one of the most corrosive forces undermining the continent’s prosperity: financial crime.
The 2025 European Anti-Financial Crime Summit, now underway in the Irish capital, has emerged as the EU’s most prominent platform for tackling illicit finance, money laundering, and regulatory evasion.
At the heart of the summit’s opening session were two names of growing influence in Brussels: Paschal Donohoe, the Eurogroup president and former Irish finance minister, and Bruna Szego, the newly appointed chair of the European Anti-Money Laundering Authority (AMLA). Their joint appearance was more than symbolic—it was a coordinated show of strength, aimed at both signalling political unity and laying down a clear warning to those who profit from Europe’s regulatory gaps.
“Dirty money undermines democracy, corrodes markets and fuels organised crime,” declared Donohoe in his keynote address. “We need sharper tools, faster coordination, and a level of vigilance that matches the ingenuity of those who seek to exploit our financial systems.”
That rhetoric is more than justified. From cyber-enabled fraud and crypto laundering to cross-border sanctions evasion, the toolkit of financial criminals has become dramatically more sophisticated. And in an era of conflict-driven sanctions, weaponised finance and geopolitical subterfuge, Europe’s financial institutions are increasingly on the frontline of global enforcement efforts.
A Pan-European Awakening
The summit’s central theme is one of cooperation—not just between member states, but between regulators, financial firms, law enforcement agencies and international allies. At stake is the EU’s long-term credibility as a serious actor in the fight against global corruption.
It’s no secret that Europe has been patchy, even complacent, in this domain. From the Danske Bank scandal that routed billions of illicit Russian funds through the Baltic states, to revelations of systemic fraud within Maltese banks, the continent has too often been exposed as a soft target. Bruna Szego’s AMLA is the EU’s response to that vulnerability: a centralised, supranational watchdog with teeth.
Szego, speaking to delegates at the Dublin Convention Centre, was blunt. “Fragmentation is our enemy. Criminal networks exploit our lack of coordination; they rely on regulatory arbitrage between member states. This must end.”
She outlined AMLA’s ambitious agenda: the creation of a unified supervision model for high-risk entities, real-time intelligence sharing between EU regulators, and direct enforcement capabilities in cases of serious non-compliance. While critics question whether the agency will have the political backing to confront powerful national interests, Szego appears undeterred.
Ireland’s Unlikely Leadership Role
That the summit is being held in Dublin is no accident. Long viewed as a hub for international finance and multinational headquarters, Ireland has in recent years taken a more vocal stance on corporate transparency and cross-border regulation. Paschal Donohoe, a figure who commands rare respect in both EU and global financial circles, has pushed for a “race to the top” in compliance standards.
Behind the scenes, Irish officials have worked quietly but effectively to ensure Dublin is seen not just as a location for financial activity, but as a thought leader in safeguarding its integrity. Hosting the 2025 summit underscores that ambition.
Industry on the Hook
Yet even with stronger institutions and louder rhetoric, success depends on the private sector. European banks and financial institutions, from Frankfurt to Milan, remain at risk of reputational ruin and regulatory censure should they fall short in compliance. Already this year, two major European lenders have faced scrutiny over links to sanctioned Russian oligarchs.
Delegates at the summit, including chief compliance officers, fintech founders, and forensic accountants, were reminded repeatedly that the cost of inaction is rising. Failure to report suspicious activity, or reliance on outdated risk models, now invites the full weight of the law—and possibly the press.
In response, some firms are betting big on AI-powered transaction monitoring and biometric customer verification. Others have called for clearer guidance from regulators and a unified legal framework for digital assets. The summit will host panels on each of these issues over the next two days, alongside closed-door workshops on enforcement cooperation and asset recovery.
A Turning Point?
For all its urgency, the summit’s atmosphere is one of cautious optimism. After years of delay and drift, there is a sense that Brussels is finally serious about turning the tide. But political will must outlast headlines. As one delegate put it bluntly, “Financial crime doesn’t rest. Neither can we.”
In Dublin, Europe has shown it knows what’s at stake. Now it must prove it has the stamina, coordination and courage to act.
