Centro de Documentação da PJ
Analítico de Periódico
CD 341
The birth of the new anti-money laundering authority [Recurso eletrónico] : harnessing the power of EU-wide supervision / Georgios Pavlidis
Journal of Financial Crime, Vol. 31, n. 2 (2024), p. 322-330
Ficheiro de 124 KB em formato PDF.
BRANQUEAMENTO DE CAPITAIS, FINANCIAMENTO DO TERRORISMO, UNIDADE DE INFORMAÇÃO FINANCEIRA, COOPERAÇÃO EUROPEIA, LEGISLAÇÃO COMUNITÁRIA, UNIÃO EUROPEIA
Purpose – This paper aims to critically examine the European Union’s legislative initiative to establish an Anti-Money Laundering Authority (AMLA), which will introduce union-level supervision and provide support to national supervisors in the field of anti-money laundering and countering the financing of terrorism (AML/CFT), as well as to financial intelligence units (FIUs) in European Union (EU) member states. The paper discusses why this initiative was deemed necessary, which are the key objectives, rules and principles of AMLA and which challenges and opportunities will emerge as AMLA becomes operational. Design/methodology/approach – This paper draws on reports, legislation, legal scholarship and other open-source data on the EU legislative initiative to establish a new AMLA. Findings – AMLA will provide a comprehensive framework for EU-level AML/CFT supervision and for cooperation among FIUs. If all organisational challenges are properly addressed, the new authority will significantly enhance the EU’s ability to tackle money laundering and terrorism financing. Originality/value – To the best of the author’s knowledge, this study is one of the first to examine the mission, governance and supervision mechanisms of the EU’s AMLA, as well as the challenges and opportunities associated with its functioning.
