GOOD morning – we lead with a major update relevant for all EU financial institutions – how AMLA will calculate its fees. The watchdog will charge firms starting from 2028, with levies expected to exceed €65 million.
The European Commission’s expert group on money laundering and terrorism financing will discuss the matter at its June 5 meeting in Brussels, according to a draft agenda of the meeting seen by AML Intelligence.
The group includes authorities from each EU member state, officials from European Economic Area members and a handful of EU institutions.
It acts as an advisor to the Commission, which will issue a so-called Delegated Act before the end of the year.
All financial institutions eligible for direct supervision will be charged. We have more detail on what companies can expect [HERE].
‘ZOMBIE COMPANIES’: Belgium has a problem with the undead, as tens of thousands of ‘zombie companies’ are plaguing the country.
The term refers to shell entities used solely as vehicles to launder dirty money, according to the President of the Business Court of Brussels.
LARA WARNER: In a major development, Switzerland’s Federal Criminal Court has ended proceedings against former Credit Suisse executive Lara Warner.
Accused of failing to report suspected money laundering related to the Mozambique tuna bond scandal, she was previously fined over the issue.
COLLARED: An in-depth interview with Jim Lee, former Chief at IRS-CI (Criminal Investigation), takes centre stage in Episode 3 of ‘Collared’.
Our latest podcast also features an explainer on the dreaded FATF (Financial Action Task Force) ‘grey’ and ‘black’ lists.
You can listen right now on:
SINGAPORE: Singapore’s central bank is working with the country’s private banking industry group to streamline AML checks.
The move is aimed at shortening the time needed for wealthy individuals to open bank accounts.
ILLICIT FINANCE SUMMIT: Finally, the UK has postponed its ‘Illicit Finance Summit 2026’, a conference to tackle global flows of dirty money, by six months to December.
Previously, the UK government had scheduled the event for the end of June in London.
Seats now available for The International Anti-Financial Crime Summit in London on Oct 7. IAFCS26 brings together senior leaders from across financial services, regulation, law enforcement and technology to examine the latest developments in AML, fraud and financial crime prevention. The one-day summit will feature high-level policy discussion, practical insights and expert perspectives on regulation, risk, governance and emerging threats shaping the global AFC landscape.
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Have a great Wednesday👋
Stephen and the team at AMlintelligence.