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ARTICLE · 24 JUNE 2024

Clarity On The Implementation Timeline For A Strengthened EU AML/CFT Framework

Arendt & Medernach
Arendt & Medernach
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Publication of the legislative texts constituting the EU's new AML/CFT framework provides clarity on the implementation timeline for supervised entities.

European UnionGovernment, Public Sector
Glenn Meyer
Glenn Meyer
Sandrine Périot
Sandrine Périot
Manfred Hoffmann
Manfred Hoffmann
Michel Iannone
Michel Iannone
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Publication of the legislative texts constituting the EU's new AML/CFT framework provides clarity on the implementation timeline for supervised entities. While the new and stricter framework will largely start applying as from 10 July 2027, AMLA, the new Authority for Anti-Money Laundering and Countering the Financing of Terrorism, will already begin its work on 1 July 2025.

On 19 June 2024, Regulation (EU) 2024/1620 establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA Regulation), Regulation (EU) 2024/1624 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLR) and Directive (EU) 2024/1640 on the mechanisms to be put in place by Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLD6) were published in the Official Journal of the EU.

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