EU’s New Anti-Money Laundering Authority on Track for Full Operations in 2028

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The Anti-Money Laundering Authority (AMLA), the European Union’s recently established anti-money-laundering body, has indicated it is on course to be operational by 2028, calling it a “historic step in strengthening the integrity and resilience of the EU’s financial system.”

Based in Frankfurt, which is also home to the European Central Bank, AMLA is intended to unify the EU’s fragmented policy response to money laundering and terrorist financing by coordinating supervision across member states and addressing emerging risks of financial crime.

Bruna Szego, the Chair of AMLA, wrote: 

AMLA marks a new chapter in Europe’s fight against money laundering and terrorism financing, transitioning from fragmented national responses to a unified, risk-based system tailored to the complexity of today’s criminal networks. … The challenges ahead—from crypto-asset supervision to cross-border criminal innovation—require an Authority that is both technically excellent and anchored in sound governance. AMLA is well prepared to meet both demands.

From 2028, AMLA aims to directly supervise 40 financial institutions deemed to present a risk of money laundering and terrorist financing within the EU.

AMLA also seeks to monitor emerging risks, such as money laundering via cryptocurrencies. Cryptocurrencies are increasingly being used to launder money, up from US$10 billion globally in 2020 to US$82 billion in 2025. However, cryptocurrencies do not make up the majority of laundered money, compared to the estimated total of €715 billion (approx. US$843 billion) and €1.87 trillion (US$2.21 trillion) laundered each year.