10/09/2024
The European Union has revised its anti-money laundering and terrorist financing (AML/CFT) framework with new legislation to improve oversight and reduce risks. This includes the creation of an international regulator, the Anti-Money Laundering Authority (AMLA), along with a streamlined rulebook. The new rules impose stricter requirements on financial institutions, including improved monitoring, reporting and regulatory compliance. Non-compliance can lead to severe penalties. Organisations should prepare in time to meet these future requirements.
Curious to learn more about the AMLA? Then be sure to read this update!