The impact of the new EU agency to improve the coordination and success of anti-money laundering (AML) activities will be largely indirect, depending on its influence over European national governments continuing to supervise most EU financial services firms. Therefore, its collaboration with national regulators and authorities will be crucial to its success.
While the Anti-Money Laundering Authority (AMLA), which received provisional approval in December, will directly regulate organizations it identifies as “high risk,” including those operating across multiple borders and some crypto-asset providers, and be able to impose financial sanctions, the numbers involved are relatively small.
