(Ripjar)

EU Anti-Money Laundering Body's Headquarters Established in Germany

The European Union (EU) has chosen Frankfurt am Main as the location for the new EU Anti-Money Laundering and Combating the Financing of Terrorism Authority (AMLA). The decision comes after approval from EU ambassadors and members of the European Parliament. AMLA's establishment is part of a broader EU reform initiative.

With the European Parliament and EU reaching consensus on all measures, the next stage involves the official adoption of the package, leading to the implementation of the described rules as laws, effective from 2025. The voting on the AMLA is scheduled between April 22 and April 25.

Among nine considered cities, Frankfurt am Main secured the majority of votes in the first round, given its strategic significance as a global financial hub.

27 February 2024, 12:50

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