New AML Factsheet: EU’s Updated Anti-Money Laundering Framework

New AML Factsheet: EU’s Updated Anti-Money Laundering Framework

New AML Factsheet: EU’s Updated Anti-Money Laundering Framework 1414 2000 ECIIA

The new AML/CFT package approved by EU lawmakers in 2024 aims to enhance the fight against financial crime. This updated package introduces a single rulebook for the entire EU and establishes the Anti-Money Laundering Authority (AMLA) in Frankfurt, which is expected to begin operations by July 2025.

Key points:

  • AMLA’s role: The authority will supervise and coordinate national authorities, with the ability to directly oversee specific entities and impose fines.
  • Entity obligations: Stricter regulations regarding customer checks, internal policies, and reporting requirements will be implemented.
  • Penalties: Non-compliant financial institutions could face heavy fines, potentially amounting to up to 10% of their annual turnover.

Get all the details—download the full factsheet here.

Our website uses cookies, mainly from 3rd party services. Please read our Privacy & Cookies Policy to learn more.