New European AML agency to be based in Germany
By 
Kyle Brasseur2024-02-27T12:43:00
The European Union’s recently approved Anti-Money Laundering Authority (AMLA) will be based in Frankfurt, Germany, and begin operations in 2025.
The Council of the European Union announced the development Thursday. It said AMLA will be comprised of more than 400 staff members.
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 anti-money laundering and countering the financing of terrorism (AML/CFT) efforts in the region. The agency received preliminary approval in December, paving its way toward final adoption.
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