EU to create Anti-money-laundering authority

May 18, 2023 | News

In July 2021, the European Commission presented a proposal for the establishment of a new EU body to combat money laundering and terrorist financing. Proposal was part of a legislative package aimed at implementing the 2020 action plan for the Union’s comprehensive policy on preventing money laundering and terrorist financing. The Anti Money Laundering Authority (AMLA) would be the center of an integrated system composed of the Authority itself and national authorities with supervisory powers in the field of combating money laundering and terrorist financing. It would also support EU financial intelligence units (FIUs) and create a cooperation mechanism between them.

The European Council reached 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 a joint report in May 2022. The report of the Joint Committee was voted on on 28 March 2023 and the mandate to start tripartite negotiations was granted by the plenary on 17 April 2023. Third edition. At key stages of the legislative process, information on “EU legislation in progress” is updated.

More information here (In Czech)