In the interview with the financial outlet, Krepšta outlined AMLA's three main functions: direct supervision of around 40 of the largest financial groups in Europe, drafting Level 2 and Level 3 regulatory acts, and ensuring close cooperation between financial intelligence units across all 27 EU Member States.
The Executive Board Member highlighted the enormous scale of financial crime in Europe, estimated at between 2% and 5% of GDP, or approximately €350-800 billion per year. He identified two main forces reshaping the landscape: technological advancement, including the use of artificial intelligence by criminals, and geopolitical change, particularly sanctions evasion linked to Russia's war against Ukraine.
Krepšta also discussed the role of blockchain and crypto assets in financial crime, noting that Europe has taken an important step forward with the Markets in Crypto-Assets Regulation (MiCA). He emphasised that criminals, like water, seek the weakest point, targeting jurisdictions where controls are weaker or supervision less effective.
The full interview is available here.
