The ECB and the Frankfurt-based AMLA have signed a memorandum of understanding to collaborate and prevent duplication of efforts, the monetary authority announced today.
The Authority for Anti-Money Laundering and Countering the Financing of Terrorism was established in 2024 and will commence direct supervision in January 2028.
The memorandum of understanding between the ECB and AMLA outlines the principles for information exchange and regular collaboration.
AMLA will directly oversee a group of financial institutions particularly exposed to cross-border money laundering risks, including payment institutions, crypto asset service providers, and some banks.
The ECB, as the eurozone supervisor, also oversees these banks and already incorporates money laundering and terrorist financing into its supervision.
AMLA President Bruna Szego stated in a release that close collaboration among all supervisors is essential to building “a robust and consistent anti-money laundering framework in Europe, which will better protect the financial system from criminals.”
“It is essential for supervisors and anti-money laundering authorities to work together closely and efficiently to strengthen the resilience of the banking sector,” reiterated Claudia Buch, Chair of the ECB’s Supervisory Board in Germany.
