Dublin has lost out in its bid to host EU’s new Anti-Money Laundering Authority (AMLA), with Frankfurt being chosen by MEPs and EU ambassadors.

Nine candidates had applied to host AMLA, presenting their candidacies in joint public hearings last month.

In the vote, Frankfurt received a majority of validly cast votes on the first round of voting and was chosen to host the agency.

The AMLA regulation is part of a wider package of laws to reform the EU’s framework for combating money-laundering and terrorist financing.

Agreed

Now that the entire package has been provisionally agreed between European Parliament and the EU Council, it needs to be formally adopted by both before entering into law. MEPs are expected to vote on their final approval in a plenary session in April.

Once adopted, the AMLA regulation will apply from July 2025.

Before then, the European Commission is responsible for establishing AMLA and for its initial operations.