{"id":36149,"date":"2026-10-23T10:53:41","date_gmt":"2026-10-23T10:53:41","guid":{"rendered":"https:\/\/www.complycube.com\/?p=36149"},"modified":"2026-10-23T10:18:30","modified_gmt":"2026-10-23T10:18:30","slug":"eu-amla-olaf-vereinbarung","status":"publish","type":"post","link":"https:\/\/www.complycube.com\/de\/eu-amla-olaf-agreement\/","title":{"rendered":"New EU AMLA and OLAF Agreement Amplifies Financial Crime Efforts"},"content":{"rendered":"

On 21 October 2026, the EU’s Anti-Money Laundering Authority (AMLA) and the European Anti-Fraud Office (OLAF) signed an agreement to strengthen investigations into fraud and corruption by enhancing financial intelligence sharing between the two parties.<\/p>\n\n\n\n

The agreement aims to integrate financial intelligence data to improve investigations into money laundering and terrorist financing. It also highlights the AMLA\u2019s concerted effort as it prepares to supervise high-risk financial institutions directly from 2028 onwards.<\/p>\n\n\n\n

The EU\u2019s Fraud Prevention Intelligence Sharing Gap<\/h2>\n\n\n\n

Just one month ago, the European Commission evaluated the OLAF Regulation. In particular, it reviewed\u00a0how effective OLAF<\/a>\u00a0is at protecting the EU\u2019s financial interests, including detecting and investigating fraud, corruption, and other irregularities affecting EU money.\u00a0<\/p>\n\n\n\n

In its evaluation, the Commission noted that the agency\u2019s current legal framework was broadly effective, but also recommended improvements in several areas. These areas included access to financial data and information exchange between authorities. <\/p>\n\n\n\n

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Investigating large criminal networks in isolation can be futile, especially when financial crime intelligence sits across multiple entities.<\/p>\n<\/blockquote>\n\n\n\n

Harry Varatharasan<\/a>, Chief Product Officer of ComplyCube, notes, \u201cCracking down on large financial crime networks can be complex. Information around suspicious transactions can sit within one company, while sanctions information can be held by law enforcement. Because intelligence is fragmented across multiple agencies, law enforcement, and firms, dismantling financial crime in isolation can be futile.\u201d<\/p>\n\n\n\n

The AMLA did not point to OLAF\u2019s September evaluation as a trigger for the agreement. However, the arrangement aligns with efforts to identify weaknesses in financial crime intelligence sharing.<\/p>\n\n\n\n

What are EU Regulators Concerned About?<\/h2>\n\n\n\n

By 2025, the European Public Prosecutor\u2019s Office (EPPO) had identified over\u00a0\u20ac67.27 billion<\/a>\u00a0in fraud damages, with revenue fraud (VAT and Customs) making up 67% of them. Additionally, up to\u00a0\u20ac210 billion<\/a>\u00a0in suspicious activities and transactions occur within the EU financial system.<\/p>\n\n\n\n

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By combining the AMLA and OLAF\u2019s<\/a> expertise and information, we make the EU\u2019s financial system harder to abuse and easier to protect.<\/p>\n<\/blockquote>\n\n\n\n

However, illicit money can move in various forms. These include misused cryptocurrencies, complex shell companies, cash-intensive businesses, and more. As such, safeguarding the financial system requires coordinated effort across multiple agencies and businesses.<\/p>\n\n\n\n

The\u00a0Chair of AMLA, Bruna Szego,\u00a0mentions, \u201cCriminals do not respect institutional boundaries, and neither can our response. By combining our expertise and information, we make the EU\u2019s financial system harder to abuse and easier to protect.\u201d<\/p>\n\n\n\n

AMLA Plans for a Single European Approach to Supervision<\/h2>\n\n\n\n

The agreement comes at a strategic time, as AMLA moves closer to becoming the EU’s central anti-money laundering authority by 2028. In particular, it will directly oversee 40 of the most complex high-risk financial institutions or groups in the EU.<\/p>\n\n\n\n

1 January 2026: <\/strong>AMLA took over the European Banking Authority (EBA) functions, including risk assessments and AML supervision previously assumed by the EBA.<\/p>\n\n\n\n

10 July 2027: <\/strong>The core EU AML Regulation (AMLR) starts kicking in. The AMLA will select the first 40 high-risk entities for direct supervision. <\/p>\n\n\n\n

2028-2029:<\/strong> AMLA gains full supervisory powers over the 40 institutions. Meanwhile, other entities continue operating under the harmonized EU AMLR framework.<\/p>\n\n\n\n

How Does AMLA Choose the 40 Entities?<\/h2>\n\n\n\n

Not all EU companies will fall under direct AMLA supervision. To be selected as one of the 40 most impactful financial institutions in the EU, an organization must meet several criteria:<\/p>\n\n\n\n