We’re excited to share a new publication in ACAMS Today, exploring how Germany is preparing for the upcoming European Union Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulation and the establishment of the EU Anti-Money Laundering Authority (AMLA).
🔍 Summary of Key Points: As the EU moves toward stronger, more centralized AML/CTF oversight, Germany is facing the challenge of adapting its national framework to align with the ambitious goals set out in the EU’s AML package. The article covers:
- AMLA’s Role and Objectives: Expected to be operational by 2026, AMLA aims to harmonize AML/CTF supervision across member states, with the authority to oversee high-risk entities directly and ensure consistent enforcement.
- Germany’s Adaptation Efforts: Germany’s financial institutions and regulators are preparing for AMLA’s impending oversight. Key changes include heightened standards for risk assessment, due diligence, and transaction monitoring.
- Challenges Ahead: The article discusses the potential hurdles for Germany, including balancing national autonomy with EU-wide consistency, updating legacy systems, and preparing organizations for AMLA’s rigorous standards.
Jennifer Hanley-Giersch, Managing Partner at Berlin Risk Advisors GmbH and ALL AML GmbH as well as founding member and Board member of the ACAMS chapter in Germany shed a light on the topic on ACAMS Today.
👉 Read the full article here: Germany Prepares for EU’s AML/CTF Regulation and AMLA