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#19Anti-money launderingPublished

Shift.

When supervision moves to Europe, does local knowledge follow?

ThenewB drawing #19, “Shift”. 2026: national supervision by the CSSF and the CAA. 2027: AMLA selects up to 40 entities. 2028: direct supervision by AMLA, with a joint AMLA, CSSF or CAA team in contact with the Luxembourg entity.

In ten seconds

Under the AMLA Regulation (EU) 2024/1620, the EU anti-money laundering authority will select up to 40 entities in 2027. From 2028, it will supervise them directly, with joint teams including the CSSF or the CAA.

Signal

Under the AMLA Regulation (EU) 2024/1620, the EU anti-money laundering authority will select up to 40 entities in 2027. From 2028, it will supervise them directly, with joint teams including the CSSF or the CAA.

Paradox

European consistency improves. Knowledge of the ground stays in Luxembourg.

Implication

A selected entity will have to explain its model to a supervisor who knows it less well. For a group subsidiary, one question arises: who carries that dialogue, the local team or the group?

Sources

  • AMLA Regulation (EU) 2024/1620
  • ThenewB analysis

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