The newly established Standing Committee on anti-money laundering and countering terrorist financing (AMLSC) is a permanent internal committee of the EBA.
The AMLSC was set up according to the requirements of Article 9a of the Regulation (EU) 2019/2175 of the European Parliament and of the Council of 18 December 2019. Its main objective is to coordinate measures in order to prevent and counter the use of the financial system for the purposes of money laundering and terrorist financing in the EU. In addition, in the context of Directive 2015/849/EU (AMLD) and Regulation 2015/847/EU (Wire Transfer Regulation), the AMLSC prepares all draft decisions to be taken by the EBA’s Board of Supervisors in relation to anti-money laundering and countering the financing of terrorism (AML/CFT).
The AMLSC is composed of a Chairperson and high-level representatives of all AML/CFT competent authorities (57 in total). Among them, one competent authority from each Member State is designated as a Member with voting rights (27 in total) while the others are Members without voting rights (30 in total). The Committee also includes observers from the European Insurance and Occupational Pension Authority (EIOPA), the European Securities and Markets Authority (ESMA), the Supervisory Board of the Single Supervisory Mechanism (ECB), the European Commission (EC), the EEA EFTA countries represented in the EBA Board of Supervisors and the EFTA Surveillance Authority (EFTA).