Brussels (dpa) – The new European Union anti-money laundering agency is to be based in Frankfurt am Main in Germany. A majority of representatives of EU states and the European Parliament voted to base AMLA (Anti-Money Laundering Authority) in Frankfurt, according to the Belgian European Council Presidency. The vote saw Germany’s bid win out against competition from eight other European capitals.
Germany’s Finance Minister Christian Lindner said Frankfurt would be a “strong, credible and sustainable base” for the new agency. He added that as an authority with a European outlook, AMLA would take efforts to fight money laundering to a new level. The new agency is to fight money laundering and financing for terrorism in the EU. ALMA is to start work in mid-2025. The European Central Bank already has its head office in Frankfurt.
