A recent preliminary ruling request from a Slovenian court has prompted the Court of Justice of the European Union (CJEU) to address a critical intersection between financial inclusion and anti-money laundering (AML) compliance. At the heart of the case lies a deceptively simple question: Can an EU bank refuse to open a basic payment account for a consumer solely because that individual appears on the U.S. OFAC sanctions list? The Advocate General's Opinion in the case offers important guidance on how EU law balances the right to access financial services with the need to prevent money laundering and terrorist financing. The implications are highly relevant for banks, regulators, and compliance officers across the EU.
