Central Bank of Cyprus hosts AMLA President Bruna Szego to strengthen coordination with national anti-money laundering authorities

The Central Bank of Cyprus reported that the President of the Anti-Money Laundering and Countering the Financing of Terrorism Authority (AMLA), Bruna Szego, visited Cyprus for meetings and roundtables aimed at strengthening coordination between AMLA and Cyprus’s national competent authorities as the EU’s new anti-money laundering approach is implemented. The programme at the Central Bank of Cyprus included a private meeting with Cyprus’s permanent joint representative to AMLA’s General Council, Kleanthis Ioannides, and discussions with senior central bank management, including Executive Director George Karatzias and the Head of the General Division of Financial Stability and Resolution, Pani Karamanou. Szego chaired two roundtables, one with national competent authorities from the financial and non-financial sectors including the Financial Intelligence Unit, and another with associations representing obliged entities licensed in Cyprus. Discussions covered opportunities and challenges from the new approach, AMLA’s short- and long-term priorities, the harmonisation of supervision, and challenges faced by national competent authorities. The update also restated AMLA’s implementation timeline: it began operations on 1 July 2025 from its Frankfurt headquarters, is expected to be fully operational on 1 January 2028, and is due to select 40 financial obliged entities for direct supervision in 2027 based on criteria under discussion, including cross-border activity and risk categorisation using a methodology under development.