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ARTICLE · 04 SEPTEMBER 2024

Understanding The EU's AML Framework Impact On Beneficial Ownership Registers

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

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In a recent article, we explored the European Union's extensive Anti-Money Laundering (AML) framework, which is designed to harmonize regulations across Member States and strengthen the fight against money laundering and terrorist financing.

European UnionGovernment, Public Sector
Dorina Mastora
Dorina Mastora
Kyriaki Stinga
Kyriaki Stinga
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In a recent article, we explored the European Union's extensive Anti-Money Laundering (AML) framework, which is designed to harmonize regulations across Member States and strengthen the fight against money laundering and terrorist financing. You can read previous analysis here.

These legislative measures will significantly impact Member States, requiring them to align their legal frameworks with the EU's updated guidelines.

Key Regulations in the Updated Framework

1. Regulation (EU) 2024/1620: Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA Regulation, AMLAR)

Effective from 1 July 2025, this regulation establishes the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) and introduces amendments to existing regulations. AMLA will be based in Frankfurt, Germany, and will oversee financial institutions identified as posing the highest risks for money laundering. Its role is to ensure

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