AMLA is expected to open doors for the first time in mid-2025, with around 400 staff members contributing to its day-to-day operations, which will include direct and indirect supervision of regulated EU entities, including the Union’s largest financial institutions.
The authority’s foundation is a key development in the ongoing EU AML framework reforms – concluding with the current EU mandate in June 2024.
AMLA will be given ultimate power to further harmonise AML regulations and their application across member states, such as creating a standardised reporting template for Suspicious Transaction Reports (STRs) – something that will affect the gambling sector as well.
EGBA is already ahead of the curve, having produced and published a package of industry-centric online gambling g..