EU GOVERNMENTS AND EUROPEAN PARLIAMENT BOTH WANT TO BOOST AMLA POWERS AND REACH
July 30th, 2022
European Union (EU) governments in the EU Council of Ministers have agreed to beef up the powers of the future European Anti-Money Laundering Authority (AMLA) due to launch on January 1, 2023, under a new June 29 common position (1) on the proposed AMLA regulation. It is one of four regulations and directives (B) that the European Commission put forward in July 2021 to replace the Fifth Anti-Money Laundering Directive (5 AMLD) (2). The Council notably wants AMLA to directly supervise a greater number of credit and financial institutions judged to be risky in ...
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