In her introduction, the AMLA's Chair recalled the importance, for the European Union, of the fight against money laundering and terrorism financing.
She described the Macro-Level Impact of Money Laundering:
- Money laundering and terrorism financing undermine economies, societies, and financial systems.
- Estimated 2-5% of global GDP circulates through illicit financial channels annually.
- Europol reports 70% of criminal networks in Europe are involved in money laundering.
Against this background, she explained AMLA's Role in Strengthening Europe's AML/CFT Framework, aiming at:
- Harmonized supervision and FIU coordination to close enforcement gaps.
- Ensure uniform application of the AML single rulebook across member states.
- Foster collaboration among EU institutions, national authorities, and international bodies.
- Direct supervision of 40 high-risk financial institutions starting in 2028.
She listed AMLA’s Short-Term Priorities in terms of operational needs, capacity building and promoting a European AML Community
Regarding Vision, Collaboration, and Strategic Partnerships, she underlined the close link between AML and prudential supervision, the crucial role of cooperation with ECB and national prudential supervisors, and the importance of the non-financial sector in AML obligations.
In her closing remarks, Bruna Zsego emphasized the importance of collaboration and stakeholder engagement in advancing AML efforts.
The full text of Bruna Szego's speech is available here.