AMLA in 2027: A Message for Cyprus Too

The full activation of the new European Anti-Money Laundering Authority (AMLA) in 2027 will bring significant changes to the fight against illicit wealth in the European Union, also affecting Cyprus. The Authority, based in Frankfurt, will directly supervise large entities and interlink beneficial ownership registers, strengthening control and supervision throughout the EU. Until now, there have been significant differences in the implementation of rules between Member States, with some applying stricter measures than others. AMLA aims to eliminate these inequalities and create a unified framework for combating money laundering. Regulation rapporteur Emil Radev noted that measures applied in countries like Germany have not been applied to the same extent in countries like Latvia or Cyprus. The strengthening of control and supervision is expected to contribute to preventing the use of the banking system to conceal and launder illicit proceeds, as well as to protect the economic stability of the EU.