EU Regulations Strengthen Anti-Money Laundering Framework

On June 9, 2026, the European Parliament and Council published two new regulations aimed at enhancing the EU's framework for anti-money laundering (AML) and countering the financing of terrorism (CFT). Regulation (EU) 2024/1620 establishes a new authority to oversee AML/CFT measures, addressing weaknesses in the current system that have been exploited by criminals. Regulation (EU) 2024/1624 aims to prevent the misuse of the financial system for money laundering and terrorist financing, building on previous directives. These regulations respond to ongoing challenges in ensuring a cohesive and effective AML/CFT strategy across member states. The regulations are expected to improve cooperation among Financial Intelligence Units (FIUs) and standardize practices across the EU. The new authority will enhance the EU's ability to combat cross-border financial crimes, which pose significant risks to the internal market. The regulations are now in force and represent a significant step toward a more integrated approach to financial security in Europe.

Key Points: • New EU regulations enhance the framework for anti-money laundering and counter-terrorism financing. • Regulation (EU) 2024/1620 establishes a dedicated authority for AML/CFT oversight. • Regulation (EU) 2024/1624 focuses on preventing financial system misuse for criminal purposes.