| Abstract [eng] |
Money laundering is a global threat to financial stability. The rapid evolution of digital technologies and the virtual economy exacerbates these risks, creating new opportunities for criminal activity while making it more difficult to detectability. In view of the new regulatory environment of the European Union, together with the Digital Identity Wallet, which is dedicated to secure digital identity verification, a secure digital identity environment that can increase trust in accessing and providing services to both the public and private sectors. Aim of this case to assess the use of the European Union Digital Identity wallet for the prevention of money laundering, focusing on the processes of onboarding a new customer in financial institutions. This study aims to thoroughly examine the theoretical and practical foundation of anti-money laundering (AML) prevention, highlighting its significance, associated challenges, and the procedures involved in client identification. And finally, the analysis focus on the client onboarding process, comparing the currently remote onboarding with EU Digital Identity Wallet and what benefits it brings. Experimental study an in-depth analysis of the scientific literature and the updated eIDAS Regulation (No. 2024/1183) which legitimizes the European Digital Identity ecosystem, is conducted and compared with current client onboarding procedures. Through experimental research, this study aims to demonstrate that the EU Digital Identity Wallet can effectively optimize and accelerate the personal identity data entry process, ensuring anti-money laundering (AML) prevention from the earliest stages of integration into financial institutions. The main findings show that the use of Digital Identity Wallet significantly improves client’s identification by enabling the rapid, secure, efficient and fair sharing of personal data, and digital documents in one environment. Use of Digital Identity Wallet can improve and speed up financial transactions and reduce the risk of fraud and prevent money laundering. The European Union Digital Identity Wallet simplifies the identification of a person, completely abandons the need for manual work, provides security and privacy, and helps to more effectively identify individuals and their financial transactions, while at the same time ensuring anti-money laundering prevention. |
