Germany officially applies for headquarters in Frankfurt
Germany has now officially applied for the seat of the new EU money laundering authority Amla. "As the largest financial center in continental Europe and the headquarters of the ECB, Frankfurt is the ideal location," explained Finance Minister Christian Lindner in Berlin on Thursday. Numerous financial institutions are located in the immediate vicinity, over which Amla will be able to conduct direct money laundering supervision in the future.
With its "excellent infrastructure, Frankfurt is the ideal location for coordinating the fight against money laundering in Europe", emphasized the Lord Mayor of Frankfurt am Main, Mike Josef. The city offers the EU authority all the necessary resources to be able to work effectively from day one.
The Federal Government, the State of Hesse and the City of Frankfurt have stated that they will support the establishment of Amla financially and will make ten million euros available for this purpose. The funds are to be shared equally by the parties involved over a period of five years.
In addition to Frankfurt, there have been expressions of interest from Paris, Vienna, Madrid, Luxembourg and Vilnius, among others. The new Anti Money Laundering Authority (Amla) is intended to better coordinate the national authorities in the future. In Germany, there have been accusations against the national financial supervisory authorities in connection with the Wirecard scandal, among other things.
The EU money laundering authority Amla's potential head office lies in Frankfurt, as Germany officially applied for this position in the financial hub. This decision was backed by Finance Minister Christian Lindner, who believes Frankfurt's status as the largest financial center in continental Europe and the location of the ECB's head office makes it an ideal choice.
The Lord Mayor of Frankfurt am Main, Mike Josef, further emphasized Frankfurt's suitability by highlighting its excellent infrastructure, essentially providing all the necessary resources for Amla to commence operations efficiently from day one.
Germany, alongside other regions like Paris, Vienna, Madrid, Luxembourg, and Vilnius, have expressed interest in hosting the new Anti Money Laundering Authority (Amla). However, the German Federal Government, State of Hesse, and the City of Frankfurt have pledged ten million euros to support Amla's establishment in Frankfurt, demonstrating Germany's commitment to securing the head office position for the EU money laundering authority.
Source: www.ntv.de
