Across banks and FinTechs in Europe, there is broad agreement on the importance of intelligence sharing to combat financial crime. Yet despite this consensus, many institutions struggle to translate intent into action.
Concerns about legality, technology, compliance, and return on investment often prevent progress, even though practical solutions already exist, claims Salv.
One of the most common misconceptions is that intelligence sharing between regulated institutions is illegal. This is understandable given the complexity of GDPR, AML directives, and national regulations. However, suspicion-led intelligence sharing is explicitly supported under frameworks such as Article 75 of the EU’s Anti-Money Laundering Regulation and the UK’s Economic Crime and Corporate Transparency Act 2023.
The key requirement is that exchanges remain proportionate, secure, and auditable, focusing on specific cases rather than raw datasets. Salv, through its Salv Bridge platform, has already enabled thousands of compliant information exchanges across Europe.
The second barrier institutions cite is technology. Many assume their legacy infrastructure or lack of specialist tools makes intelligence sharing impossible. In reality, solutions like Salv Bridge have been operational since 2021, handling over 56,000 exchanges to date. The real challenge tends to be internal adoption, with institutions debating ownership, escalation paths, and oversight. Successful banks often start small, piloting one or two use cases—such as fraud recovery or enhanced due diligence—before expanding.
Another concern comes from legal and compliance teams, who worry about liability, privacy, and reputational risks. Salv has seen these fears eased through clear documentation, regulatory guidance, and examples from peer institutions. Involving legal, compliance, and data protection stakeholders at the outset, rather than after technical development, has proven critical in building confidence and achieving approval.
Finally, there is scepticism about whether the effort justifies the outcome. Yet Salv cites multiple cases where intelligence sharing has prevented significant losses. In one instance, a single alert between two banks enabled the recovery of €50,000 that would have been lost to fraud. With new reimbursement requirements in the UK, acting quickly is not only beneficial for compliance but also for financial and reputational resilience.
These concerns are not insurmountable. Institutions that start small, involve legal teams early, and share internal success stories can build momentum. Intelligence sharing is no longer optional—it is becoming a core control in the fight against financial crime.
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