Speaking to the summit's theme of growth, innovation and security, Szego emphasised that security in all its dimensions stands at the core of Europe's efforts to ensure the banking sector's resilience and competitiveness. She noted that criminal networks now operate seamlessly across borders, exploiting gaps between national systems and using technologies that make transactions harder to trace. Until now, fragmentation across 27 legal frameworks has allowed criminals to exploit these inconsistencies.
The Chair outlined AMLA's three-pillar approach: a Single Rulebook applying consistent standards across all Member States, supervisory convergence ensuring rules are understood and applied consistently, and strengthened cooperation between Financial Intelligence Units to improve cross-border intelligence sharing. She announced that AMLA would soon publish its first multi-annual planning document for 2026-2028, giving financial institutions clarity on what is coming and when.
On direct supervision from 2028, Szego stressed that preparation is a main priority for this year, with a data collection exercise starting in March to inform the risk assessment models that will guide selection of the 40 cross-border financial institutions. She urged industry participation, noting that AMLA relies on good data to develop models that are fit for purpose.
Addressing concerns about complexity, the Chair argued that the new framework is itself a simplification exercise by removing fragmentation. She noted that directly supervised institutions will have one supervisor instead of multiple national ones, while those under national supervision will benefit from harmonised standards and greater predictability.
On technology, Szego highlighted AMLA's unique position as an authority created in the AI era with no legacy systems. She outlined work on crypto-asset activities and the development of secure IT infrastructure for both supervisory and FIU functions.
The Chair closed by emphasising the importance of partnership with the private sector, noting that she had visited all 27 Member States in 2025 to meet with supervisors, FIUs and industry representatives.
