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Compliance, EU, Sanctions, Schuman

NEWS: EU’s new AML Authority (AMLA) may also be tasked with enforcing Russia sanctions in proposal being considered by Commission

By STEPHEN RAE for AML Intelligence

EUROPE’S new AML Authority (AMLA) may also be tasked with enforcing sanctions across the EU, it’s been revealed.

The proposals would give AMLA powers to compare with powerful US Treasury agency, OFAC. If given the green light the sanctions function would likely double the €200M budget and 250 staff currently being earmarked for AMLA.

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