![Anti-money-laundering authority (AMLA): Countering money laundering and the financing of terrorism [EU Legislation in Progress]](https://i0.wp.com/epthinktank.eu/wp-content/uploads/2022/09/EPRS-Briefing-733645-Anti-money-laundering-authority-AMLA-FINAL.png?fit=1000%2C616&ssl=1)
Written by Cécile Remeur (5th edition, updated on 03.09.2024).
In July 2021, the European Commission tabled a proposal to establish a new EU authority to counter money laundering and the financing of terrorism (AMLA). This was part of a legislative package aimed at implementing the 2020 action plan for a comprehensive Union policy on preventing money laundering and the financing of terrorism. The AMLA would be the centre of an integrated system composed of the authority itself and the Member States’ national authorities with an AML/CFT supervisory mandate. It would also support EU financial intelligence units and establish a cooperation mechanism among them.
In the European Parliament, the file was referred to the Committees on Economic and Monetary Affairs (ECON) and on Civil Liberties, Justice and Home Affairs (LIBE). After reaching a provisional agreement on the AMLA in December 2023, the Parliament and the Council decided on the location of the Authority’s seat (Frankfurt) in February 2024. Regulation (EU) 2024/1620 was adopted on 31 May 2024 and published in the Official Journal of the EU on 19 June 2024. It entered into force on 26 June 2024 and will start applying from 1 July 2025.
Complete version
- September 2024: Anti-money-laundering authority (AMLA): Countering money laundering and the financing of terrorism (5th edition)
| Proposal for a regulation of the European Parliament and of the Council establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) No 1093/2010, (EU) 1094/2010, (EU) 1095/2010 |
| Committees responsible: | ECON and LIBE (Rule 58) | COM(2021) 421 20.7.2021 |
| Co-rapporteurs: | Eva Maria Poptcheva (Renew, Spain); Emil Radev (EPP, Bulgaria) | 2021/0240(COD) |
| Shadow rapporteurs: | Isabel Benjumea (EPP, Spain); Paul Tang (S&D, Netherlands); Pedro Marques (S&D, Portugal); Ramona Strugariu (Renew, Romania); Gwendoline Delbos‑Corfield (Greens/EFA, France); Rasmus Andresens (Greens/EFA, Germany); Joachim Stanisław Brudziński (ECR, Poland); Andżelika Anna Możdżanowska (ECR, Poland); Gunnar Beck (ID, Germany); Annalisa Tardino (ID, Italy); Clare Daly (The Left, Ireland); Martin Schirdewan (The Left, Germany) | Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’) |
| Procedure completed: Regulation (EU) 2024/1620 Official Journal of the EU L, 19 June 2024 |
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