New anti-money laundering authority to be established in the EU

The European Commission has announced that it welcomes the preliminary agreement reached between the European Parliament and the European Council on the establishment of a new EU anti-money laundering and counter-terrorism financing authority (AMLA), Kazinform's own correspondent reports.

It is envisaged that the new structure will be created in the form of a decentralized EU regulatory agency.

The European Commission report notes that the establishment of a new EU body will change the approach to the supervision of countering money laundering and terrorism financing and improve cooperation between EU financial intelligence units.