EU enters the AMLA era - first term report

The race, not merely to level the anti-money laundering playing field in the European Union but ensure that all member states are fully engaged and pull together as a team, is on, if off to an uneven start. The Anti-Money Laundering Authority, tasked to drive consistent supervision across the bloc, is building capacity in Frankfurt. Outside financial services, though, obliged entities in many sectors remain below threshold compliance standards, and some countries have already missed the first of many deadlines for AML VI Directive implementation. Sara Lewis reviews the progress from Brussels.

The race, not merely to level the anti-money laundering playing field in the European Union but ensure that all member states are fully engaged and pull together as a team, is on, if off to an uneven start. The Anti-Money Laundering Authority, tasked to drive consistent supervision across the bloc, is building capacity in Frankfurt. Outside financial services, though, obliged entities in many sectors remain below threshold compliance standards, and some countries have already missed the first of many deadlines for AML VI Directive implementation. Sara Lewis reviews the progress from Brussels.