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The European Union’s new Anti-Money Laundering Authority (AMLA) will be headquartered in Frankfurt, Germany.

 The Council of the European Union and European Parliament have agreed to establish the headquarters of the new European AMLA in Frankfurt, Germany. The AMLA will oversee the crypto sector to combat money laundering and counter-terrorist financing. 

Today, the EU and its member states decided to establish the EU anti-money laundering authority in Frankfurt. This is an important milestone, and we stand ready to work closely with AMLA to strengthen the fight against money laundering and terrorist financing across Europe. pic.twitter.com/nzkWUl8plY

— European Central Bank (@ecb) February 22, 2024

AMLA to Begin Operations in Mid-2025

Members of the Council of the European Union and the European Parliament agreed to base the headquarters of the new European authority for anti-money laundering and counter-terrorist financing in Frankfurt, Germany. 

The Anti-Money Laundering Authority (AMLA) will oversee the crypto industry and play a key role in combating illicit financial activities, money laundering and terrorist financing in the EU. According to a press release by the European Parliament, the AMLA regulation, once adopted, will take effect from July 2025 and is slated to have around 400 staff members, Reuters reports. 

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Author: Jana Serfontein

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