By PAUL O’DONOGHUE, Senior Correspondent
THE EBA (European Banking Authority) has formally handed over its AML powers to AMLA, the EU’s new AML Authority, in a landmark shift for European financial crime oversight.
The transfer was completed on 1 January 2026. It ends the EBA’s stand-alone AML mandate, which it had held since 2020.
It is part of the EU’s new AML/CFT package, which gives AMLA a responsibility for overseeing and harmonising the EU’s AML approach.
“Key EBA tools and expertise have been transferred to AMLA,” the EBA said.
“All existing EBA AML/CFT guidelines and standards will remain in force until replaced by AMLA,.”
The EBA said it worked closely with AMLA to ensure a “seamless and timely transition” transition.
Under the new framework, AMLA will complete the EU’s Single Rulebook. It will also advance supervisory convergence, and coordinate financial intelligence units across borders. In addition, it will directly supervise 40 of the EU’s most complex financial institutions or groups.
The EBA said it will continue to tackle money laundering risks “through prudential regulation”. “[We will] work hand in hand with AMLA to maintain a coherent framework,” it said.
The two organizations recently signed an MoU (Memorandum of Understanding) for increased cooperation. The EBA said this will “enable regular information exchange, joint initiatives and consistent engagement with the private sector”.
“Together, AMLA and EBA aim to deliver a more effective and consistent EU response to financial crime,” it added.
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