The birth of the EU Anti–Money Laundering Authority

Following years of consultations and deliberations, the European Union enacted legislation in 2024 creating the Anti–Money Laundering Authority (AMLA), a new agency that is now starting up its 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 across the European Union, and will also wield wide powers of oversight of national authorities in charge of AML supervision. Why and how did the Eu

Source: Peterson Institute (PIIE)