RegSol Blog

Dublin bids to host AMLA

January 2024

Ireland has presented its case for hosting EU’s new Anti-Money Laundering Authority (AMLA) in Dublin before a joint hearing of the European Parliament and EU Council. Dublin is among 9 cities seeking to host AMLA.

Michael McGrath, the finance minister, and Jennifer Caroll MacNeill, the junior finance minister pointed to Dublin’s connectivity, it’s financial services sector and the presence of large technology and fintech firms in the capital, as key reasons to locate the new body in Dublin. “Dublin has the right mix to make sure that AMLA is a success. Ireland has a long record of being a constructive member of the EU in rooms like this,” McGrath said, adding that the government has committed €80 million to help set up the new body.

The authority is being set up to counter money laundering and financial terrorism across the EU and will supervise entities in both the financial services sector and in the non-financial sector. It is hopeful that the body will be fully operational within a year and will start off with an employee base of between 250 – 400. This number is expected to grow to the thousands.

A final decision on the host city for AMLA is expected on February 22nd. More information on Dublin’s bid can be found here.