From 2028, the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) is due to directly supervise a first group of up to 40 credit and financial institutions or groups across the EU; under Article 13(4) of Regulation (EU) 2024/1620, direct supervision starts six months after AMLA publishes the selected-entity list. The exercise…
If a Luxembourg credit institution or financial institution ends up on AMLA’s list of selected obliged entities, its day-to-day AML/CFT supervisor changes. Its supervisor moves from the CSSF to a Frankfurt-based EU body that reviews policies, runs inspections, and can impose pecuniary sanctions. AMLA direct supervision is that mechanism, and the data that decides who…
The most expensive scoping mistake a Luxembourg compliance team can make right now is assuming someone else will flag it for AMLA direct supervision. The Authority for Anti-Money Laundering and Countering the Financing of Terrorism picks its first set of directly supervised firms in 2027, and the data that feeds that decision is being collected…