Australia

Commbank partners with OpenAI

Commonwealth Bank of Australia (CommBank) has formed a multi-year strategic partnership with OpenAI, becoming OpenAI’s banking partner in Australia. They will develop advanced generative AI solutions to improve scam and fraud detection and provide more personalized customer services. CommBank employees will receive AI tools like ChatGPT Enterprise along with training to ensure responsible AI use.

Takeaways:

  • Collaborate with AI solution providers to enhance fraud detection and build client trust.
  • Use generative AI to offer more personalized and engaging client services.
  • Prioritize AI training and responsible use to maximize benefits and minimize risks.

Sources: https://www.commbank.com.au/articles/newsroom/2025/08/tech-ai-partnership.html

 

EU

SupTech are key for AML/CFT

The European Banking Authority (EBA) has released a report affirming that supervisory technology tools (SupTech) are key assets in anti-money laundering (AML) and countering the financing of terrorism (CFT) enforcement across the EU. The report, informed by surveys of national competent authorities (NCAs) and collaboration with the new EU-level Anti-Money Laundering Authority (AMLA), underscores that SupTech adoption is growing, with 47% of tools already operational, bringing tangible benefits like improved data quality and risk identification efficiency. However, challenges such as resource limitations, legal uncertainties, and data governance persist. The EBA commits to ongoing support and innovation in tech-driven AML/CFT supervision.

Takeaways:

  • Implement advanced AML tools to improve compliance but also to prepare for future regulatory developments in the EU AML/CFT landscape

Sources: https://funds-europe.com/suptech-confirmed-by-eba-as-key-aml-cft-tool/

United States

Federal Framework Established for Stablecoins Under GENIUS Act with AML/CFT Recommendations

The GENIUS Act, signed into law July 2025, creates a federal regulatory framework for stablecoins and addresses digital asset risks. The report accompanying the Act urges clearer delineation of responsibilities among federal agencies and advocates for regulatory clarity around Bank Secrecy Act (BSA), AML/Counter Financing of Terrorism (CFT), and sanctions compliance tailored for digital assets. This guidance aims to help credit unions and smaller financial institutions avoid over- or under-compliance due to a lack of digital asset-specific AML rules.

Takeaways:

  • Credit unions and smaller institutions should update risk assessments and compliance frameworks to include digital asset activities.
  • Prepare for enhanced vendor oversight, risk disclosure, and tailored AML/CFT procedures as more regulatory clarity emerges.
  • Follow evolving guidance related to digital asset transactions to balance innovation and regulatory compliance.

Sources: https://www.americascreditunions.org/blogs/compliance/digital-asset-regulatory-recommendations