A new European Union (EU) authority to fight money laundering will likely oversee the establishment of EU-level anti-money laundering and counter financing of terrorism (AML/CFT) supervision if a package of four legislative proposals to strengthen the union’s (AML/CFT) rules is adopted (Trade-based Financial Crime, 21 July 2021, New EU AML Authority centrepiece in European Commission’s ambitious new AML/CFT proposals).

The EU AML Authority (AMLA) is also expected to support a cooperation mechanism for national financial intelligence units (FIUs) in EU member states.

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