In the article New automated bank screening could create ‘surveillance state’ across EU, Statewatch paid attention to the consultation response by Privacy First in the consultation held by the new European Authority for Countering Money Laundering and Financing of Terrorism (AMLA).

The introduction:

Draft standards for anti-money laundering monitoring by private companies could turn fundamental rights into a “mere illusion”, according to civil liberties organisation Privacy First. The Dutch organisation is calling for a ban on automated risk profiling – the use of software to analyse customer data or behaviour and generate indicators of possible money-laundering risk. Privacy First made the comments in response to draft guidelines prepared by the EU’s new Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA).
Privacy First said the proposals risk creating a “financial surveillance state” that ignores citizens’ fundamental rights. Amnesty International raised similar concerns in June, warning that automated risk profiling in law enforcement, social security and migration can be discriminatory, opaque and difficult to validate.