What is AMLA?
The Anti-Money Laundering Authority (AMLA) is the EU's centralised AML supervisory body, established in Frankfurt in 2024. AMLA represents the most significant structural change to EU AML governance since the first Anti-Money Laundering Directive in 1991. It has direct supervisory powers over high-risk obliged entities and coordinates national competent authorities across EU member states.
AMLA's powers and responsibilities
AMLA combines direct supervision of a small number of firms with oversight of every national supervisor in the EU.
Direct supervision
AMLA will directly supervise a selection of the highest-risk credit and financial institutions. While non-financial institutions are not in the initial direct supervision scope, AMLA can step in where national supervisors are deemed ineffective - creating indirect oversight pressure.
Coordination of national supervisors
AMLA coordinates and oversees national supervisory authorities, including those supervising legal professionals, accountants, real estate agents, and TCSPs. This means more consistent supervisory standards across EU member states.
Single rulebook
The accompanying EU AML Regulation creates a directly applicable rulebook that eliminates the inconsistencies that arose from member states transposing directives differently. Research in the Journal of Financial Stability identified this inconsistency as a primary weakness in previous EU AML frameworks.
Impact on non-financial institutions
Most non-financial firms won't be supervised by AMLA directly, but its rules will still reach them.
Harmonised obligations
The single rulebook means that CDD requirements, beneficial ownership thresholds, and EDD triggers are now consistent across all EU member states. Firms operating across borders no longer need to navigate divergent national implementations.
Stricter cash limits
The legislative package introduces an EU-wide cash payment limit of EUR 10,000. High-value goods dealers, art dealers, and precious metals traders are particularly affected.
Enhanced beneficial ownership transparency
Strengthened beneficial ownership register requirements and cross-border interconnection mean that opaque ownership structures face greater scrutiny. TCSPs must ensure their KYB processes meet the new standard.
Preparing your firm
Non-financial institutions should review their risk assessments, ensure screening processes cover all required lists, and verify that record-keeping meets the harmonised standard. FirmScreen provides the automated screening, case management, and audit trail capabilities needed to meet AMLA-era compliance requirements.