ESAs sign Memorandum of Understanding with AMLA for effective cooperation and information exchange
The European Supervisory Authorities (EBA, EIOPA, and ESMA) have signed a multilateral Memorandum of Understanding (MoU) with the European Union's Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA). The MoU outlines the cooperation and information exchange between the four institutions to combat money laundering and terrorist financing. The agreement aims to promote supervisory convergence, enable information exchange, and foster cross-sectoral learning and capacity building among supervisors. The MoU is part of AMLA's overall cooperation framework for the financial sector and is an important component of the institutional arrangements going forward. The ESAs and AMLA will work together to uncover companies that engage in or facilitate money laundering and terrorist financing. The cooperation will help to ensure that these illicit activities do not go undetected or unpunished in the EU. The ESAs stand ready to support AMLA with their knowledge and information to protect the integrity of the EU's financial system. The MoU marks an important step in delivering a risk-focused and integrated European AML/CFT framework. The fight against crime affects all sectors, and the ESAs and AMLA are stronger when they work together.