As of: February 23, 2024, 8:33 a.m
By: Christoph Sahler
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The European Central Bank is the eye-catcher in the east of Frankfurt.
© Andreas Arnold/dpa
The new EU anti-money laundering authority will be based in Frankfurt.
A victory for Germany against eight European capitals.
Frankfurt – The decision has been made: Frankfurt will be the location of the European Union’s new anti-money laundering authority.
This was announced after a vote by representatives of EU countries and the European Parliament.
Germany prevailed against eight other European capitals that had also competed for the authority's headquarters.
The new authority, known as AMLA (Anti-Money Laundering Authority), was proposed by the EU Commission in 2021.
Its main task will be to combat money laundering and terrorist financing within the EU.
It will supervise credit and financial institutions operating across borders and classified as high risk, including providers of crypto asset services.
In addition, it will coordinate and support national supervisory authorities.
EU anti-money laundering authority AMLA: Frankfurt wins the contract
In addition to Frankfurt, Rome, Vienna, Vilnius, Riga, Dublin, Madrid, Brussels and Paris also applied for the seat of the new authority.
However, Frankfurt was able to win the smallest possible majority.
At the end of January, Federal Finance Minister Christian Lindner (FDP) emphasized in a public hearing in the European Parliament in Brussels that Frankfurt offers the AMLA all the necessary conditions to be fully functional from day one.
The Federal Republic, Hesse and the city of Frankfurt have promised to provide at least ten million euros for the establishment of the authority.
(csa/dpa)
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