On 19 June 2024, the Final Act of the AMLAR was published in the Official Journal of the European Union. Regulation 2024/1620/EU (AMLAR) establishes AMLA as a Union body with legal personality and provides details with regard to, among others, its structure, aim and (in)direct supervisory powers over high-risk obliged entities in the financial sector. AMLA will also have a supporting role with respect to the non-financial sector, and coordinate and support Financial Intelligence Units (FIUs). AMLA will, in cases of serious, repeated or systematic breaches of directly applicable requirements of Regulation 2023/1113/EU (TFR) and Regulation 2024/1624/EU (AMLR), impose pecuniary sanctions on the selected obliged entities. AMLAR enters into force on the 7th day following its publication in the Official Journal and it is to apply from 1 July 2025. However, Art. 1, 4, 49, 53, 54, 55, 57 to 66, 68 to 71, 100, 101 and 107 must apply from 26 June 2024, while Art. 103 must apply from 31 December 2025.
