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ARTICLE · 20 MAY 2024

AMLA: A New Game-Changer At Institutional Level

Arendt & Medernach
Arendt & Medernach
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Arendt & Medernach

Arendt & Medernach

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In response to identified weaknesses within the existing AML/CFT framework of the European Union and in view of the urgent need to address cross-border financial crime threats...

LuxembourgGovernment, Public Sector
Stéphanie Lhomme
Stéphanie Lhomme
Sandrine Périot
Sandrine Périot
Manfred Hoffmann
Manfred Hoffmann
Michel Iannone
Michel Iannone
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In response to identified weaknesses within the existing AML/CFT framework of the European Union and in view of the urgent need to address cross-border financial crime threats in a more coordinated manner, the Anti-Money Laundering Authority Regulation (AMLA Regulation) provides for the establishment of an EU-level authority.

In response to identified weaknesses within the existing anti-money laundering and countering the financing of terrorism (AML/CFT) framework of the European Union and in view of the urgent need to address cross-border financial crime threats in a more coordinated manner, the Anti-Money Laundering Authority Regulation (AMLA Regulation) provides for the establishment of an EU-level authority. Through an institutional supervisory model, which is much inspired from the single supervisory mechanism for credit institutions, this Anti-Money Laundering Authority (AMLA) is tasked with enhancing supervision of high-risk entities, promoting

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