By PAUL O’DONOGHUE, Senior Correspondent
THE EU’s new Anti-Money Laundering Authority (AMLA) has officially begun operations as of today, July 1.
The day marks the date when the new watchdog assumes the majority of its supervisory powers.
Maria Luíz Albuquerque, the European Commission Financial Services Commissioner, said the event “marks a milestone for the European financial system”.
“AMLA is set to transform the EU’s fight against financial crime,” she said.
“Together, we send a powerful signal. Europe is raising its standards. Defending our economy, protecting citizens, and ensuring that our financial markets remain global benchmarks of transparency and trust.”
AMLA is based in the German city of Frankfurt. In a statement, Germany’s Department of Finance said: “The aim of AMLA is to take the European anti-money laundering system to a new level.
“We want to enforce a tougher approach to financial crime. We want to hit fraudsters, tax evaders and money launderers where it hurts them most – with the money and assets they have acquired illegally.”
FIU Deutschland, Germany’s Financial Intelligence Unit, said: “On 1 July 2025, AMLA – officially begins its tasks.
“This will make a key element of the EU’s new anti-money laundering framework operational.
“FIU Germany supports this important step. AMLA will strengthen cooperation between Financial Intelligence Units in the European Union.”
AMLA establishment
The new AMLA watchdog was established as an entity last year, after the publication of the EU’s AML Package.
The agency is tasked with harmonizing AML rules across the EU. It will also coordinate cooperation between regulators and FIUs.
FIU Deutschland said AMLA will “promote effective approaches to the analysis of suspicious transaction reports”.
“FIU Germany will play an active role in this European cooperation.”
It also added that AMLA’s creation marks “a clear step towards stronger European cooperation”.
AMLA’s first staff member, chair Bruna Szego, was appointed at the start of 2025.
Most of the agency’s Executive Board has been appointed, with recruitment for more positions also underway. The Executive Board commenced its duties earlier this month. The appointed Executive Board members are Simonas Krepsta (Lithuania), Rikke-Louise Petersen (Denmark), Derville Rowland (Ireland), and Juan Manuel Vega Serrano (Spain).
AMLA is expected to eventually have over 400 staff.
Officials from the European Banking Authority (EBA) warned last week that the dozens of European AML regulators currently all apply different supervisory approaches.
Speaking at the AML Intelligence Compliance Council, Carolin Gardner, Head of the EBA’s AML/CFT Unit, said this approach creates confusion and increases costs for financial institutions.
The EBA is due to transfer its AML powers to AMLA at the end of the year.
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