Balancing Privacy with Anti-Money-Laundering

Our payment habits are changing. With digital payments on the rise, we need to preserve people’s freedom to choose how to pay: there’s cash, card, online transfers – and soon, we could have a digital euro. But what is the digital euro, and how will it work? Will it replace cash? Concerns about data security and government control have sparked debate around the digital euro, often fuelled by disinformation. We separate fact from fiction as our host Stefania Secola teams up with Aidas Palubinskas from EU Finance Podcast to speak to Executive Board member Piero Cipollone about modernising our money. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Recorded on 4 November 2025 and published on 13 November 2025. In this episode: 02:18 The digital what? What is the digital euro, and how will it work in practice? Don’t we already pay digitally? 13:48 What will happen to cash? Would introducing the digital euro mean the end of cash? And could it take away business from banks and other financial service providers? 16:25 How secure would the digital euro be really? What about hackers? Will our money be safe, and will the digital euro affect the integrity of the payments system? 19:31 Did someone say Big Brother? Will central banks, governments and other authorities have access to our data ? How private will our payments really be? 24:52 When will we have a digital euro? Where are we in the process and what are the next steps? How are EU institutions like the European Commission and the European Parliament involved in the digital euro project? 29:17 Our guests’ hot tips Piero Cipollone shares his hot tip. EU Finance Podcast – the future of finance https://finance.ec.europa.eu/eu-finance-podcast-future-finance_en Digital euro https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html President Lagarde explains the next digital euro phase https://www.instagram.com/reel/DQd60z9jfjV/?igsh=MTV2OW4zNXp5cHJvNA== The ECB Podcast: The digital euro, demystified https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod231024_episode71.en.html Press release: Eurosystem moving to next phase of digital euro project, 30 October 2025 https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr251030~8c5b5beef0.en.html The ECB Blog: Making euro cash fit for the future https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250804~9d3993abe0.en.html Fit of the digital euro in the payment ecosystem https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse/shared/pdf/ecb.deprep251030_digital_euro_fit_payment_ecosystem_report.en.pdf