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Regulatory timeline

From the G7 to AMLA.

Thirty-five years of anti-money laundering rules in Europe and beyond — and the dates still ahead of us.

  1. July 1989 Done

    The FATF is born

    The G7 summit in Paris creates the Financial Action Task Force to tackle drug money.

  2. 1990 Done

    The first Forty Recommendations

    The FATF publishes its first set of 40 Recommendations — the beginning of a global standard.

  3. June 1991 Done

    First EU AML Directive

    Directive 91/308/EEC requires customer identification and suspicious-transaction reporting, focused on drug proceeds.

  4. 2001 Done

    Second Directive, and terrorist financing

    Directive 2001/97/EC widens the predicate offences and brings in professions such as notaries and accountants. After 9/11 the FATF adds Special Recommendations on terrorist financing.

  5. 2005 Done

    Third Directive: the risk-based approach

    Directive 2005/60/EC introduces the risk-based approach, beneficial owners and politically exposed persons.

  6. February 2012 Done

    The revised FATF Recommendations

    The FATF merges its standards into a new set of 40 Recommendations covering laundering, terrorist financing and proliferation.

  7. May 2015 Done

    Fourth Directive: beneficial ownership registers

    Directive (EU) 2015/849 requires central registers of beneficial owners and EU-wide and national risk assessments.

  8. May 2018 Done

    Fifth Directive

    Directive (EU) 2018/843 opens company registers to the public and brings virtual-currency exchanges and wallet providers into scope.

  9. 20 July 2021 Done

    The Commission proposes the AML package

    A single rulebook, a new directive, an EU authority and rules on the transfer of crypto-assets.

  10. 22 November 2022 Done

    The Court closes public access to registers

    In joined cases C-37/20 and C-601/20 the EU Court of Justice invalidates general public access to beneficial ownership registers.

  11. February 2024 Done

    Frankfurt chosen as AMLA's seat

    The Council and Parliament agree that the new authority will be based in Frankfurt am Main.

  12. 19 June 2024 Done

    The AML package is published

    Regulation (EU) 2024/1624 (AMLR), Directive (EU) 2024/1640 (AMLD6) and Regulation (EU) 2024/1620 (AMLA) appear in the Official Journal. AMLA's regulation enters into force on 26 June, the AMLR and AMLD6 on 9 July 2024.

  13. 30 December 2024 Done

    The travel rule for crypto-assets

    Regulation (EU) 2023/1113 applies: originator and beneficiary information must accompany crypto-asset transfers.

  14. 1 July 2025 Done

    AMLA starts operating

    The AMLA Regulation applies; the authority begins its work in Frankfurt, coordinating national supervisors and FIUs.

  15. 10 July 2027 Done

    The single rulebook applies

    The AMLR becomes directly applicable in every member state, with no national transposition; AMLD6 must be largely transposed by the same date.

  16. 2028 Done

    Direct supervision by AMLA

    After a selection process in 2027, AMLA directly supervises a first group of the most cross-border, highest-risk institutions.

  17. 10 July 2029 Done

    Football joins the regime

    The AMLR starts to apply to football agents and to certain transactions of professional football clubs.

Sources