Paris candidate to host the future European Anti-Money Laundering Authority

Paris joins the list of candidates to host the future European Authority to fight against money laundering, the Minister of Economy and Finance announced on Tuesday.

Although the application process has not yet formally opened, four other cities have already publicly declared their interest: Frankfurt, Vienna, Madrid and Vilnius.

We already host the European Banking Agency and the Financial Action Task Force, organizations with which [la future Autorit] will have numerous and fruitful interactions, underlined the minister in a press release, to justify his candidacy.

The Minister of the Economy also invoked the strengths of the city of Paris in terms of real estate, air and rail links and, for future employees, in terms of employment for spouses, and educational and cultural offers. .

Today, the fight against money laundering at European level is carried out through directives which are then transposed into the laws of the 27 member countries of the European Union.

Each country has its own implementation mechanisms, and there is no harmonized implementation, explained in a brief to the press Robert Ophle, ex-president of the Financial Markets Authority and responsible for the candidacy project. from Paris.

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The Authority will also support national supervisors on the application of anti-money laundering rules by the most sensitive financial intermediaries, added Mr. Ophle.

A decision is expected by the end of the first half of 2023.

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