EU’S FUTURE FRANKFURT-BASED AMLA HAILED AS A GAME CHANGER’
May 19th, 2024
The European Union’s (EU) new Anti-Money Laundering Authority (AMLA) is being hailed as a ‘game changer’ in the battle against dirty money by Europe’s lawmakers, even before it officially starts work at its Frankfurt base on July 1, 2025. But it will be a long road to get to full cruising speed, as planned for 2028, when AMLA is projected to directly supervise Europe’s 40 most ML-risky banks and other financial institutions that operate in six or more EU countries.
AMLA still must prove its worth as the lynchpin of a new harmonised EU system, based on ...
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