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European Banking Authority: Milestone in Combating Financial Crime

Published January 21, 2026, 05:21
European Banking Authority: Milestone in Combating Financial Crime

The European Banking Authority (EBA) and the Anti-Money Laundering Authority (AMLA) have completed the transfer of all AML/CFT functions from the EBA to the AMLA, marking a milestone in strengthening the fight against financial crime in the European Union. This transfer is part of the EU's new AML/CFT package, which places the AMLA at the heart of a comprehensive European supervisory system. The EBA and AMLA worked closely together to ensure a smooth transition, transferring important tools and expertise, such as the EuReCa database and risk assessments. Existing EBA guidelines and standards will remain in force until replaced by the AMLA, ensuring regulatory continuity. The AMLA will complete the EU Single Rulebook, promote convergence of supervisory authorities, and coordinate the exchange of information between Financial Intelligence Units (FIUs). From 2028, the AMLA will directly supervise 40 high-risk financial institutions and indirectly supervise the remaining entities in coordination with national authorities. The selection of the 40 entities will be based on a harmonized methodology under development. The EBA will continue to address money laundering risks through preventative regulation, cooperating with the AMLA.

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