Article 1 — Establishment and scope of action

Financial crimeLevel 1RegulationAMLAStage: AdoptedVerifiedOfficial source

1.The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (‘the Authority’) is hereby established.

Copy link

1(2)

2.The Authority shall act within the powers conferred on it by this Regulation, in particular those set out in Article 6, and within the scope of Regulation (EU) 2023/1113, Directive (EU) 2024/1640 and Regulation (EU) 2024/1624, as well as all directives, regulations and decisions based on those acts, of any further legally binding Union act which confers tasks on the Authority, and of national legislation transposing Directive (EU) 2024/1640, and other directives conferring tasks on supervisory authorities.

Copy link

1(3)

3.The objective of the Authority shall be to protect the public interest, the stability and integrity of the Union’s financial system, and the proper functioning of the internal market by:

Copy link

1(3)(a)

(a)preventing the use of the Union’s financial system for the purposes of money laundering and terrorist financing (‘ML/TF’);

Copy link

1(3)(b)

(b)contributing to the identification and assessment of ML/TF risks and threats across the internal market, as well as risks and threats originating from outside the Union that impact, or have the potential to impact, the internal market;

Copy link

1(3)(c)

(c)ensuring high-quality supervision in the area of anti-money laundering and countering the financing of terrorism (‘AML/CFT’) across the internal market;

Copy link

1(3)(d)

(d)contributing to supervisory convergence in the area of AML/CFT across the internal market;

Copy link

1(3)(e)

(e)contributing to the harmonisation of practices in the detection of suspicious transactions or activities by Financial Intelligence Units (‘FIUs’);

Copy link

1(3)(f)

(f)supporting and coordinating the exchange of information between FIUs, and between FIUs and other competent authorities.

Copy link

The provisions of this Regulation are without prejudice to the powers of the Commission, in particular pursuant to Article 258 TFEU, to ensure compliance with Union law.