No go for Rome; EU anti-money laundering authority will be in Frankfurt

Brussels – The Italian attempt to bring the new European anti-money laundering authority to Rome failed: in the end, Frankfurt won the race among nine candidates. In a joint vote, delegations from the European Parliament and the EU Council chose the German city where Goethe was born.

AMLA “will play a key role to fight illicit financial activities in the EU. With more than 400 staff, it will start its operations mid-2025.” the Belgian presidency at the EU Council announced at the end of the vote.

It is the first time in the history of EU agencies that the Parliament and the Council agreed on an equal footing on the host city, following a Judgment of the Court of Justice of the European Union to that effect. The governments of the nine candidates – Rome, Vienna, Vilnius, Riga, Frankfurt, Dublin, Madrid, Brussels, and Paris – presented their plans at a joint hearing on January 30.

The Italian delegation, comprising the mayor of Rome, Roberto Gualtieri, and the deputy minister of economy, Maurizio Leo, proposed a 17,000-square-meter site at EUR dedicated solely to AMLA, focusing on its proximity to the Fiumicino airport and a series of facilitated services and opportunities for future employees and their families; in addition to the Italian know-how acquired over the years in the area of anti-money laundering.

English version by the Translation Service of Withub