Anti-Money Laundering Authority (AMLA): deal sets clear competences of the future agency, but negotiations on the seat are still ongoing

Author: Alberto Cuena Vilches



Money laundering landscapeupdated

Renew Europe welcomes today’s early interinstitutional agreement on the competences and powers of the Anti-Money Laundering Authority (AMLA), the game changer in the fight against money laundering and terrorism financing in Europe. The only remaining question is where the headquarters of the future EU agency will be located, on which discussions will continue.

Renew Europe MEP Eva Poptcheva (Ciudadanos, Spain), Vice-Chair of the Committee on Economic and Monetary Affairs, ECON co-rapporteur on the regulation for establishing AMLA authority, stated:

"We have a deal on the substantive provisions of the new Anti-money Laundering Authority. AMLA will be a game changer to crack down on dirty money in the EU. It will supervise the 40 riskiest financial entities and it will oversee the non-financial sector to help prevent cases like the Pandora Papers. AMLA will also play a crucial role avoiding the circumvention of targeted financial sanctions like the ones included in the 11 sanctions packages approved by the EU against Russia. Next step is to find the best possible location to host AMLA”

Renew Europe MEP Ramona Strugariu (REPER, Romania), LIBE shadow rapporteur on the AML/CFT legislative package, said:

“This political deal is history in the making. We will have, for the first time in the Union, a strong body equipped with proper resources and expertise in the fight against money laundering, ensuring efficient supervision of the financial and non-financial sector. After all of the massive money laundering scandals that we all witnessed, hurting communities and lives, It was high time to deliver to the EU citizens, which deserve to feel safer, more protected, respected. And we succeeded.”


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