Two roles, and only one of them will ever visit you
The AMLA has two roles. One reaches a small number of selected entities and the other reaches everybody, and conflating them is what produces the noise.
- The video of every lesson, and the word-for-word transcript beside it
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- An assessment for each of the 4 modules, and an end-of-course assessment
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The narrated video runs about 29 minutes across the 12 lessons. That is short on purpose: no filler and no reading out of the law, with the work in the transcripts, the sources, the assessments and the artefacts.
Module 2. The AMLA
The two roles of the new authority and which of them will ever reach your entity, the difference between being eligible for consideration and being selected, and the convergence that has already started through the questions your supervisor asks. Lesson 2.1, two roles, and only one of them will ever visit you. Lesson 2.2, selection, and how to answer the board. Lesson 2.3, convergence starts with the questions.
Every instrument this lesson is built from, linked to its official text
Regulation (EU) 2024/1620 establishes the AMLA and separates its two roles. Direct supervision of selected entities runs through the eligibility criteria in article 12(1), which reaches only credit institutions and financial institutions, and groups of them, operating in at least six Member States including the home Member State, and through the selection in article 13, which takes from that population the entities whose residual risk profile is classified as high, capped at around forty for the first selection. Article 13(4) commences the first selection by 1 July 2027 and starts direct supervision six months after the resulting list is published. Article 77(1) levies the annual supervisory fee on selected entities and on non-selected entities meeting the article 12(1) criteria. The standard setting, the technical standards and guidelines, and the coordination of national supervisors are the role that reaches every obliged entity, whether or not it is ever selected.
- Regulation (EU) 2024/1620 of 31 May 2024 establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism EUR-Lex, official Journal. The two roles kept apart: direct supervision of a small number of selected entities, with the eligibility criteria in article 12 and the selection in article 13, and the standard setting, technical standards, guidelines and coordination of national supervisors that reach every obliged entity https://eur-lex.europa.eu/eli/reg/2024/1620/oj
Module 2. The AMLA
- Lesson 2.1. Two roles, and only one of them will ever visit you 2:15 · this page
- Lesson 2.2. Selection, and how to answer the board 2:08
- Lesson 2.3. Convergence starts with the questions 2:16
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Access to The 2027 AML package: a gap analysis for your entity opens the video, the word-for-word transcript, the module assessments and the certificates. If you already have access, sign in and this page becomes the lesson.
Or watch lesson 1-1 of this course free, with no account: The 2027 AML package: a gap analysis for your entity, the free sample.