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Abstract The establishment of an Anti-Money Laundering Authority (AMLA) heralds a milestone in the European Union’s (EU) institutional framework for the enforcement of anti-money laundering and countering the financing of terrorism (AML/CFT) rules. This contribution explores the competence and powers of the new AML/CFT supervisor. While AMLA is a true enforcement actor with investigative and sanctioning powers to address breaches of AML/CFT requirements, the scope of AMLA’s enforcement powers will be limited. AMLA will nevertheless have an important regulatory impact and it will enhance the fight against cross-border financial crime by supporting the work of other bodies and agencies in the field.
Tosza et al. (Mon,) studied this question.