By
Kyle Brasseur2023-12-14T15:42:00
A new agency to supervise high-risk financial institutions across the European Union regarding their anti-money laundering and countering the financing of terrorism (AML/CFT) activities gained provisional approval from the Council of the European Union and European Parliament.
The Anti-Money Laundering Authority (AMLA) is soon expected to receive final adoption following the agreement between the two sides announced Wednesday. The creation of AMLA was proposed as part of a July 2021 package of rules presented by the European Commission to strengthen the efficiency of AML/CFT efforts in the region.
In addition to supervisory powers, AMLA will be granted the ability to impose monetary penalties on the entities it will oversee.
2024-02-27T12:43:00Z By Kyle Brasseur
The European Union’s recently approved Anti-Money Laundering Authority will be based in Frankfurt, Germany, and begin operations in 2025.
2024-01-18T19:40:00Z By Kyle Brasseur
The European Union moved closer to finalizing rules that would expand current anti-money laundering and customer due diligence obligations to new sectors, in addition to granting greater powers to national financial intelligence units.
2024-01-17T12:25:00Z By Ruth Prickett
The impact of the Anti-Money Laundering Authority to improve the coordination and success of AML activities will be largely indirect, depending on its influence over European national governments continuing to supervise most EU financial services firms.
2025-10-27T20:16:00Z By Adrianne Appel
California has delayed the release of draft greenhouse gas reporting rules for businesses until early 2026, the California Air Resources Board said.
2025-10-27T19:06:00Z By Neil Hodge
New rules that have recently come into effect across the EU will allow for greater transfers of data between companies, though experts fear the changes could conflict with Europe’s strict privacy legislation, which protects personal information.
2025-10-24T18:05:00Z By Adrianne Appel
Nine states are collaborating to write and enforce comprehensive data privacy laws, in an effort to protect consumers across jurisdictions and due to the absence of a broad, federal privacy law.
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