AMLA and the European Supervisory Authorities have signed a memorandum of understanding to strengthen cooperation and information exchange across the EU’s financial system.
The agreement between AMLA and the ESAs, which include the EBA, EIOPA and ESMA, is designed to support their efforts in combatting money laundering and the financing of terrorism.
The memorandum sets out how AMLA and the ESAs will share information efficiently to carry out their supervisory responsibilities. It aims to boost consistency in financial oversight across the EU, promoting supervisory convergence and supporting cross-sector learning among regulators.
EIOPA chair and chair of the Joint Committee of the ESAs Petra Hielkema said, “The memorandum we signed demonstrates the strong commitment of Europe’s financial supervisors to working closely together to combat money laundering and terrorist financing—crimes that undermine social justice and the well-being of our communities. Uncovering companies that engage in or facilitate such activities demands serious effort and dedication.
“The ESAs stand ready to support AMLA with all the knowledge and information at our disposal so that it can exercise its new powers to ensure that these illicit activities do not go undetected or unpunished on our soil. We look forward to a productive and efficient EU-wide collaboration with AMLA to protect the integrity of the EU’s financial system and create a safer and fairer financial environment for all.”
AMLA chair Bruna Szego said, “This Memorandum marks an important step in delivering a risk focused and integrated European AML/CFT framework. Cooperation between AMLA and the ESAs is essential so that we support each other to effectively deliver on our respective mandates and work together for a safer and more resilient Europe. The fight against crime affects all sectors and we are stronger when we work together.”
AMLA, the Authority for Anti-Money Laundering and Countering the Financing of Terrorism, is tasked with transforming the supervision of AML/CFT within the EU.
Its remit includes directly overseeing the highest-risk financial institutions with cross-border operations and ensuring that AML rules are enforced consistently across the EU’s financial and non-financial sectors.
Read the daily FinTech news
Copyright © 2025 FinTech Global
Copyright © 2018 RegTech Analyst
