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Key success factors for an effective EU AML/CFT authority

Day 3 Morning

Friday 25 February

Room :

QUEEN MARY (ground floor)


Gediminas Šimkus
Governor - Bank of Lithuania
Public Authorities
Jesper Berg
Director General - Danish Financial Supervisory Authority (Finanstilsynet)
Philippe Bertho
Director, AML-CFT Directorate - Autorité de Contrôle Prudentiel et de Résolution (ACPR)
Luis Garicano
MEP - Committee on Economic and Monetary Affairs, European Parliament
Marcus Pleyer
Deputy Director General, International Financial Markets, Digitization, Anti-Money Laundering & Coun - Federal Ministry of Finance, Germany
Derville Rowland
Director General Financial Conduct - Central Bank of Ireland
Industry Representative
Duncan DeVille
Global Head of Financial Crimes Compliance - Western Union (USA)

Objectives of the session

The AMLA will supervise financial sector entities that are exposed to the highest risk of money laundering and terrorism financing, which will in return benefit from having a single supervisor.

A coordination role in the non-financial sector is also targeted for AMLA.

A “single EU rulebook” will include directly applicable AML/CFT rules and requirements imposed on obliged entities.

The Authority will be established in 2023. The first selection of directly supervised entities will be carried out in 2025. In parallel, the European Commission is working on a legal framework for the interoperable use of digital identity solutions.

In this context the session will focus on outlining the key success factors for an effective operation of the AMLA as well as the missing elements which may lead to a further effective EU AML/CTF framework.

Questions to be addressed

  1. What are the main challenges faced by the EU to efficiently fight money laundering and terrorism financing, which are by essence transnational and trans sectoral? What are the main coordination challenges to address?
  2. Since effective AML/CFT action requires gathering multiple expertise e.g., financial, digital, investigation, legal, … what are the key technology and talents success factors to build-up an effective AMLA?
  3. How to qualify and make further effective in the EU, AML/CTF effectiveness?