Author: Iman Khodri
Committee: Banking, Insurance & Financial Authorities
Date:18/02/2026
1. Introduction; 2. Role; 3. Governance: structure and functions; 4. Impact on the financial system; 5. Next steps.
1. Introduction
The creation of AMLA, the authority for anti-money laundering, was finalized on 14 February 2024. The European parliament and the council discussed the final details including the location of its headquarters in Frankfurt, Germany.
The action plan took place in 2021 and the authority is expected to be operational, adopting its first guidelines by July 10, 2026.
2. Role
a) Direct, indirect supervision and coordination of financial intelligence unit.
The authority will play a similar role to the ECB in the field of banking supervision, exercising direct supervision on 40 financial groups and providers of cryptocurrency at high risks operating in at least 6 member states. The entities involved will be selected according to a technical standard scheduled for July 2027 and reviewed every three years.
For these 40 entities, AMLA will be able to:
– Conduct onsite and offsite inspections.
– Impose sanctions.
– Operate through joint supervisory teams in cooperation with national authorities.
For the remaining entities not included in the 40, AMLA will exercise indirect supervision, coordinating national authorities and intervening directly exclusively in exceptional cases of serious violations. In the non-financial sector, AMLA will have a monitoring and support role, with the ability to carry out assessments and issue non-binding recommendations.
Regarding the FIUs (Financial Intelligence Units):
– AMLA will coordinate and enhance cooperation among European FIUs
– It will centrally manage the FIU.net network.
– It will work in synergy with the FIU Platform, active since 2006, which will continue to operate.
The role of indirect supervisor and coordinator FIU will take place in July 2025 while the direct supervision on selected individuals is excepted for the 2028.
b) The harmonization of standards and other roles
Other than the role of coordination of the national authorities, AMLA will also have a key role in the process of regulatory harmonization in EU. It will have to integrate the AML package by developing technical regulatory standards (RTS) and implementing standards (ITS), but also guidelines and opinions. Some of these rules could be ready as early as February, while the first official guidelines are expected by July 2026, when the first provisions of the new EU Regulation 2024/1624 will come into force, especially about access to the register of beneficial owned.
3. Governance: structure and functions
The governance of the AMLA will rest on two main bodies: the Executive Committee and the General Council.
– The Executive Committee will consist of six people: the President and five independent members, including a Vice-Chair. It will play a more operational role: adopting binding decisions addressed both to obliged entities and to supervisory authorities, while also overseeing the budget and the Authority’s day-to-day functioning.
– The General Council, on the other hand, will be broader and will have a dual composition: it will include representatives of the national anti-money laundering authorities (one for each Member State, with voting rights), as well as the heads of the FIUs (the Financial Intelligence Units) of all EU Member States. The General Council will provide opinions on the decisions taken by the Executive Committee, particularly those concerning to entities under direct supervision. This serves to ensure a comparison before decisions are formalized.
Some non-voting observers will also participate, including representatives of the European Commission, the ECB, the three European Supervisory Authorities (EBA, EIOPA, ESMA), OLAF, Europol, Eurojust and the European Public Prosecutor’s Office (EPPO).
Between the Executive Committee and the FIUs there will also be a standing committee, a sort of small group that will act as a link between the two decision-making levels.
To guide everything there will be a President, who will participate in the work of both main bodies. For the more managerial and practical part, however, an Executive Director will be appointed, who will take care of the daily management, the annual work plan and the budget.
Finally, about funding, the AMLA will be financed for about 30% by the European Union, while the remaining 70% will come from contributions paid by the financial sector. These fees will be calculated based on direct supervision, risk level and turnover. Important: those who are not subject to direct supervision (such as some financial institutions or non-financial entities) will not have to pay anything.
4. Impact on the financial system
AML legislation will have a significant impact on the EU’s financial future, helping to strengthen the stability of the banking system and preventing criminal infiltration. In addition, strict anti-money laundering rules increase the attractiveness of the EU for investors, reducing legal and reputational risks. However, adopting the rules comes with compliance costs for businesses. AML will be tasked with coordinating and harmonizing AML policies between Member States, strengthening the financial integration of the Union.
5. Next steps
To prepare for AMLA’s launch, a dedicated task force has been set up to manage the initial establishment phase, including staff recruitment and budget planning.
AMLA became operational in July 2025, while in 2026 is expected to see the first public consultations on the implementing. The selection of the 40 subjects will take place in 2027, with full direct supervisory activity expected to start in 2028.
The establishment of the AMLA is seen as a significant change not only for FIUs, but also for all subjects obliged by anti-money laundering legislation. According to the first anticipations, it seems that there will be a very present and dedicated structure for each intermediary among the 40 selected. Precisely for this reason, the operators involved are expected to prepare in advance: it could be useful to organize a dedicated internal garrison, so as not to be found unprepared and to be able to effectively manage the incoming changes.
Bibliography
– https://www.amla.europa.eu/index_en?prefLang=it
– https://eur-lex.europa.eu/legal-content/IT/TXT/PDF/?uri=OJ:L_202401620
– https://www.consilium.europa.eu/it/policies/fight-against-terrorist-financing/#fight