AMLA Regulation Regulation (EU) 2024/1620
- Issuing authority
- European Union
- Effective date
- AMLA became operational on 1 July 2025. Direct supervision begins on 1 January 2028.
- Scope
- All EU Member States
- Penalty regime
- Up to 10% of annual turnover for serious or systematic breaches (where provided for under the Regulation).
Key requirements
Creates the EU's first dedicated AML authority AMLA headquartered in Frankfurt's MesseTurm. From 2028 it will directly supervise the 40 highest-risk cross-border banks and CASPs. Until then it's writing technical standards and coordinating national supervisors. AMLA can fine firms up to 10% of annual turnover for serious breaches.
Quick Summary
The AMLA Regulation creates the European Union's first Anti-Money Laundering Authority (AMLA). Based in Frankfurt, Germany, AMLA will coordinate AML supervision across the EU and, from 1 January 2028, directly supervise around 40 of the highest-risk cross-border financial institutions and crypto asset service providers (CASPs). It can also impose significant financial penalties for serious breaches of the rules.
What is it?
AMLA is the EU's central AML supervisor. Before AMLA, each Member State was responsible for supervising its own financial institutions. AMLA was created to improve cooperation between national regulators, make AML supervision more consistent across the EU, and directly supervise the firms considered to present the highest money laundering risks.
Who does it apply to?
- Banks
- Crypto Asset Service Providers (CASPs)
- Payment institutions
- Electronic money institutions
- Investment firms
- Financial groups operating in more than one EU Member State
- National AML supervisors
- AML and compliance professionals
- non-financial sector supervisors (such as real estate boards, high-value asset dealers, and legal self-regulatory bodies)
Why does it matter?
AMLA is one of the biggest changes to the EU's AML framework in decades. It aims to make AML supervision more consistent across all Member States and reduce differences in how AML rules are applied. For firms that fall under AMLA's direct supervision, there will be a single EU supervisor instead of relying only on national authorities.
What should firms do?
- Understand whether they could fall under AMLA's direct supervision from 2028.
- Monitor AMLA's technical standards, guidance, and supervisory expectations.
- Review existing AML policies to ensure they align with the EU's new AML framework.
- Prepare for greater supervisory consistency across the EU.
- Train compliance teams on AMLA's role and future supervisory requirements.
AboutAML Breakdown
AMLA doesn't replace national regulators. Instead, it works alongside them. Most firms will continue to be supervised by their national authority. However, AMLA will directly supervise a small number of the highest-risk cross-border firms while coordinating and supporting national supervisors across the EU. This means that even if your firm is never directly supervised by AMLA, its technical standards and guidance are still likely to influence how national regulators supervise AML compliance. In other words, AMLA will shape AML expectations across the entire EU, not just for the firms it supervises directly.