The European Commission first recommended the creation of a new body to strengthen the anti-money laundering and countering the financing of terrorism (AML/CFT) framework in Europe almost four years ago. AMLA is expected to be operational by mid-2025.

Fenergo has investigated the implications of this for the EU in order to help future-proof customer lifecycle management.


The mandate of AMLA will cover both direct and indirect supervisory authorities over high-risk financial firms, providing a cohesive approach to confront the cross-border character of financial crime.

Beyond the oversight of its member states, AMLA is also responsible for personally supervising specific organizations and groups and enforcing penalties as needed. Involvement in non-financial industries and the coordination of financial intelligence units (FIUs) around the EU are also included in this extensive mandate.

With the creation of AMLA and the adoption of the EU single rulebook in 2024, financial institutions are expected to undergo substantial regulatory changes. The goal of this harmonization endeavor is to make cross-border interactions and trade easier, yet regulated enterprises still face difficulties. It is anticipated that AMLA will promote the adoption of contemporary technology solutions while discouraging the use of possibly antiquated or inflexible methods.

Frankfurt was chosen as the AMLA's headquarters following a competitive bid process that involved nine EU member states. Comparable to the voting procedure for the Eurovision song contest, the selection process featured rounds of voting by the European Union Council and Parliament. This marked a change from the prior secretive procedures for EU agency seat selection. A new age of transparency and legislative involvement in the EU is highlighted by this openness and the European Parliament's involvement in the selection process.

Frankfurt's choice is representative of Germany's dedication to spearheading efforts to fight financial crime and AML. Germany has been enacting significant AML changes concurrently with the creation of AMLA, led by the Federal Office to Combat Financial Crime (BBF). Prioritizing the examination of intricate international money laundering cases is the goal of these initiatives. Frankfurt's increasing prominence in the European financial arena is further highlighted by its current position as the location of the European Central Bank (ECB).

Frankfurt was selected as the headquarters of AMLA in a calculated move that is expected to increase the city's appeal to foreign investment, particularly from businesses wishing to participate in the agency's decision-making procedures. Leaders in the sector have praised the action, and Fenergo expressed hope that the centralized ecosystem will successfully fight financial crime.