Anti-money-laundering authority (AMLA): Countering money laundering and the financing of terrorism

Briefing 15-05-2023

In July 2021, the European Commission tabled a proposal to establish a new EU authority to counter money laundering and the financing of terrorism (AMLA). This was part of a legislative package aimed at implementing the 2020 action plan for a comprehensive Union policy on preventing money laundering and the financing of terrorism. The AMLA would be the centre of an integrated system composed of the authority itself and the national authorities with an AML/CFT supervisory mandate. It would also support EU financial intelligence units (FIUs) and establish a cooperation mechanism among them. The Council achieved a partial political agreement on the proposal on 29 June 2022. In the European Parliament, the file was referred to the Committee on Economic and Monetary Affairs (ECON) and the Committee on Civil Liberties, Justice and Home Affairs (LIBE). The co-rapporteurs issued their joint report in May 2022. The joint committee report was voted on 28 March 2023 and the mandate to enter trilogues was granted by the plenary on 17 April 2023. Third edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure. The first edition was written by Carla Stamegna.