After years of consultation and deliberation, the European Union passed legislation in 2024 creating the Anti-Money Laundering Authority (AMLA), a new agency that is now starting operations in Frankfurt. In January 2028, the AMLA will take over the direct anti-money laundering (AML) supervision of several dozen banks and other entities in the European Union, and will also have greater powers to supervise the national authorities responsible for AML supervision.
Why and how did the EU decide to create a new AML supervisor? How can the AMLA improve the effectiveness of the EU AML framework? Will it add complexity to the already crowded landscape of EU financial services authorities, or is there potential to streamline the AML process and make European business less burdensome?
HOST
Nicolas Véron
Senior Fellow, Peterson Institute for International Economics (PIIE)
GUEST
Raluca Pruna
Former Head of Financial Crimes Unit, Directorate General for Financial Stability, Financial Services, and Capital Markets Union (DG FISMA), European Commission