The fight against money laundering is a top priority for the EU and Germany. In an ambitious legislative package to combat money laundering and terrorist financing, the EU has not only standardised anti-money laundering legislation across Europe, but also established AMLA as the first-ever designated EU authority to counter money laundering.

“We are getting tougher on financial crime. We need to hit fraudsters, tax evaders and money launderers where it hurts them most – by targeting the money and assets that they have obtained illegally. It’s a question of fairness. Those who cause great harm to society through their criminal actions must be held accountable. The new EU authority is a major step towards achieving this. AMLA will take European efforts to combat money laundering and terrorist financing to the next level. German revenue and security authorities will work together closely with the new EU authority.” German Finance Minister Lars Klingbeil

In cooperation with the Land of Hesse and the city of Frankfurt, the German government has made good on its promise to provide financial support to AMLA over a period of five years. The German government, the Land of Hesse and the city of Frankfurt continue to provide their full support to AMLA during the set-up phase.

EU creates a standardised set of rules to combat money laundering

Equipped with all the necessary regulatory and supervisory powers, AMLA will work together with the member states’ supervisory authorities to ensure the uniform application of anti-money laundering legislation and to strengthen cooperation between national Financial Intelligence Units.

As an authority with a European perspective, AMLA will take anti-money laundering efforts in the EU to the next level and play a leading role in protecting the integrity of the single market.