Mur għall-kontenut ewlieni
Finance

Anti-money laundering and countering the financing of terrorism overview

The fight against financial crime, which includes anti-money laundering and countering the financing of terrorism (AML/CFT), is vital for financial stability and security in Europe and the integrity of financial markets.

What the EU is doing and why

The European Commission carries out risk assessments in order to identify and respond to risks affecting the EU internal market. It promotes the adoption of global solutions to respond to these threats at international level. The European Union adopted robust legislation to fight against money laundering and terrorist financing which contributes to those international efforts. The Commission ensures effective application of this legislation by reviewing transposition of EU acquis and working with networks of competent authorities.

The fight against financial crime, which includes money laundering and terrorist financing, is essential for the integrity of EU financial markets. Work starts at home: we need effective rules and consistent implementation across the EU.

At EU level, the Commission adopted an ambitious package of proposals in 2021. The package harmonises rules across the EU to make sure that there are no legislative gaps amongst Member States.

It also proposes the creation of a new EU authority – the Anti-Money Laundering and Countering the Financing of Terrorism Authority (AMLA) – that will be the central authority coordinating national competent authorities acting in the area of prevention of money laundering and the financing of terrorism – namely, AML/CFT supervisors and Financial Intelligence Units (FIUs).

AMLA will assist AML/CFT supervisors and will directly supervise some selected cross-border obliged entities in order to ensure that supervision is effective and of high quality across the EU.

It will also have the function of a support and coordination mechanism for FIUs, hosting their information exchange platform (FIU.net) and being able to initiate and participate to joint analyses of cross-border suspicions in order to enhance the detection of cross border crime. The Commission ensures effective application of the legislation by reviewing transposition of EU law and working with networks of competent authorities.

At international level, the Commission contributes to the international rules, e.g., through its work within the Financial Action Task Force, as well as bilateral cooperation.

AML explained

Latest developments

  1. 24 April 2024
    European Parliament plenary votes on the reports on Anti-money laundering and countering the financing of terrorism legislative package
  2. 10 January 2024
    Seat selection procedure - AMLA
  3. 28 September 2023
    Call for application - AMLA

    At the request of the co-legislators, which have agreed on the selection criteria, the Commission launched a call for applications to Member States for the selection of the seat of AMLA (Anti-Money Laundering/Countering the Financing of Terrorism Authority).

  4. 29 June 2022
    Legislation - Transfer of Funds Regulation

    Political agreement reached by co-legislators on Commission's proposal to amend the Transfer of Funds Regulation (TFR).

    The agreement provides for an obligation for all crypto service providers involved in crypto transfers to collect data on the originators and beneficiaries of the crypto-assets transfers they operate, and make them available to the competent authorities in charge of the fight against money laundering and terrorism financing.

  5. 20 July 2021
    Legislative proposal - Anti-money laundering and countering the financing of terrorism in the EU

    The European Commission presented an ambitious package of legislative proposals to strengthen the EU’s anti-money laundering and countering the financing of terrorism (AML/CFT) rules. The package harmonises AML/CFT rules across the EU. It also proposes the creation of a new EU authority to fight money laundering.

  6. 7 May 2020
    Action plan - Anti-money laundering and countering the financing of terrorism in the EU

    The European Commission adopted an action plan for a comprehensive Union policy on preventing money laundering and the financing of terrorism built on six pillars. To gather the views of citizens and stakeholder on these measures, the Commission launched a public consultation in parallel to the adoption of this action plan.

  7. 24 July 2019
    Communication - Anti-money laundering and countering the financing of terrorism in the EU