In a keynote speech at the 10th Austrian Anti-Money Laundering Conference, Hennie Verbeek-Kusters, Executive Board Member of the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA), outlined how the new authority will pursue more consistent and effective EU anti-money laundering and countering the financing of terrorism supervision without replacing national supervisors or financial intelligence units (FIUs). AMLA will directly supervise certain impactful cross-border financial institutions, while its broader role will focus on supervisory convergence under a risk-based and proportionate framework. For obliged entities, the framework will include a common format for reporting suspicions, guidance on suspicious activity indicators and new opportunities for information-sharing partnerships. The indicators are intended to support rather than replace professional judgment. Consistent with AMLA's previously stated coordination priorities, the authority will also support FIUs through peer reviews, joint analysis of cross-border cases and development of the FIUnion Hub.
European Union's Authority for Anti-Money Laundering and Countering the Financing of Terrorism outlines its supervisory and FIU coordination model
AMLA Executive Board Member Hennie Verbeek-Kusters outlined the authority's model for direct supervision, wider supervisory convergence and coordination among national FIUs. Obliged entities can expect a common format for suspicious transaction reporting, guidance on suspicious activity indicators and new information-sharing opportunities, while FIUs will be supported through peer reviews, joint analyses and the FIUnion Hub.