The EU’s new Anti-Money Laundering Authority: What it means for your business

A new era in EU AML enforcement begins 1 July 2025

The EU’s new Anti-Money Laundering Authority (AMLA), established under Regulation (EU) 2024/1620, marks a major milestone in the EU’s fight against financial crime. Officially published on 19 June 2024, AMLA will begin operations on 1 July 2025, with key preparatory provisions already in effect. As part of the broader AML Package, AMLA will play a central role in strengthening oversight, harmonising rules and enhancing the EU’s capacity to detect and prevent money laundering and terrorist financing.

The AML Package introduces a unified and far-reaching framework to combat money laundering and terrorist financing. It includes:

• Regulation (EU) 2024/1620: Establishes AMLA and its supervisory powers.

• Regulation (EU) 2024/1624: Introduces the Single Rulebook, replacing fragmented national rules with directly applicable EU law.

• Directive (EU) 2024/1640: Enhances national supervisory mechanisms and cooperation.

• Directive (EU) 2024/1654: Expands access to centralised bank account registries for law enforcement.

Together, these instruments aim to create a cohesive, risk-based and technology-enabled AML/CFT regime across the EU.

Regulation (EU) 2024/1620: Establishing AMLA

AMLA will be headquartered in Frankfurt, Germany and will act as the central supervisory authority for AML/CFT in the EU. Its mandate includes both direct and indirect supervision, coordination with national authorities and the development of technical standards.

Key functions of AMLA

• Objective: AMLA is tasked with overseeing the application and enforcement of AML/CFT standards, fostering a unified approach to financial security throughout the EU.

• Direct supervision: The authority will directly supervise high-risk financial institutions and obliged entities, particularly those with cross-border operations, ensuring compliance with stringent standards.

• FIU coordination: AMLA will collaborate closely with financial intelligence units (FIUs), facilitating joint analyses and information exchange to enhance the detection and prevention of financial crimes.

• Technical standards: AMLA is responsible for developing regulatory technical standards and guidelines, promoting uniformity in AML/CFT practices.

• Central database: By maintaining a comprehensive repository of AML/CFT data, AMLA enhances transparency and information sharing among national and EU supervisory bodies.

Governance and oversight

AMLA will be governed by:

• A general board (strategic oversight);

• An executive board (day-to-day operations); and

• A chairperson appointed by the Council of The European Commission, who will oversee AMLA’s establishment until 31 December 2025.

Regulation (EU) 2024/1624: The Single Rulebook

This regulation introduces a uniform AML/CFT framework that applies directly across all member states, replacing the current patchwork of national transpositions.

Key provisions

• Standardised obligations for all obliged entities, including financial institutions, legal professionals, real estate agents and others.

• Risk-based approach requiring entities to assess and mitigate risks based on their business model and exposure.

• Enhanced beneficial ownership requires disclosure of beneficial ownership information to increase transparency and prevent the misuse of corporate structures.

• Sector expansion, which extends AML/CFT obligations to sectors such as professional football clubs and traders of high-value goods, addressing vulnerabilities and closing existing loopholes.

• Cross-border supervision obligations, including notification to national supervisors before operating in another member state.

Implementation timeline

• General application: 10 July 2027.

• Sector-specific provisions: Phased in by 10 July 2029.

Directive (EU) 2024/1640: Sixth Anti-Money Laundering Directive (AMLD6)

This directive complements the Single Rulebook by reinforcing national supervisory capacity and inter-agency cooperation.

Key provisions

• National supervisory mechanisms must be strengthened to ensure effective enforcement.

• FIUs are given a central role in intelligence gathering and cooperation.

• Authority collaboration is mandated to ensure a unified approach across member states.

• Whistleblower protections are enhanced to encourage the reporting of suspicious activity.

Transposition deadline

Member states must transpose AMLD6 into national law by 10 July 2027.

Directive (EU) 2024/1654: Centralised Bank Account Registries

This directive enhances transparency by expanding law enforcement access to centralised bank account registries.

Key features

• Objective: Facilitate the tracking of illicit financial flows and improve investigative capabilities.

• Phased implementation: From 10 July 2027 to 10 July 2029, allowing member states to upgrade systems and ensure secure access.

Key actions businesses can take today

• Review internal policies: Assess your AML/CFT policies and standards against the requirements in the new Single Rulebook (Regulation 2024/1624). Ensure consistency across all EU jurisdictions where your business operates. This alignment will help demonstrate compliance readiness and reduce the risk of regulatory scrutiny under AMLA’s harmonised framework.

• Strengthen beneficial ownership and CDD controls: Implement robust procedures to verify and document beneficial ownership using national registries. At the same time, enhance customer due diligence processes especially for high-risk countries and politically exposed persons (PEPs) and ensure systems can manage the harmonised €10,000 threshold for occasional transactions.

• Invest in technology and automation: Consider implementation and enhancement of technology and digital solutions to enable the ever-increasing demand on operations, data security and regulatory reporting. AMLA will rely on centralised data access and analytics, so being tech-ready will improve compliance efficiency, reduce manual effort, and support timely reporting to national and EU authorities.

• Train staff on new requirements: Deliver awareness sessions on AMLA’s supervisory role, new CDD and reporting obligations, and cross-border compliance expectations. Well-informed staff are essential to embedding a culture of compliance and ensuring your organisation can respond confidently to evolving regulatory demands.

• Engage with supervisors and prepare for centralised reporting: Establish strong communication channels with national AML supervisors and FIUs. Monitor AMLA guidance as it becomes available. Also, ensure your systems are ready to contribute to and access AMLA’s central database, aligning internal reporting formats with EU-wide standards.

We’re here to help you

Navigating the evolving AML landscape can be complex, especially with the introduction of AMLA and the new EU rulebook. At PwC, we understand the pressure businesses face to stay ahead of regulatory change. Our team combines deep regulatory expertise with practical experience helping clients across sectors prepare for AML/CFT reforms. Whether you need a policy review, technology assessment or strategic roadmap, we’re here to support you every step of the way.