In the battle for the location of the new EU Money Laundering Authority (AMLA), Vienna is facing increasing competition from a neighboring country: three Italian cities – Rome, Turin and Venice – are showing interest. They want to submit their candidacy to the government in Rome in the coming days.
Recently, Italian Minister of Economy Giancarlo Giorgetti supported Rome’s candidacy. “Several financial institutions have their headquarters in Rome, so Rome has opportunities,” stressed the economy minister from the ranks of the right-wing Lega, as Milan’s daily Corriere della Sera reported on Wednesday.
Authority under construction next year
In July 2021, the European Commission presented a comprehensive anti-money laundering and terrorist financing package. AMLA is designed to directly monitor reportable entities in the financial sector that are at high risk of money laundering and terrorist financing and to support national regulators. The authority should be established in 2024.
“Good chances” for Vienna
Austria will “confidently” apply for the seat of the new EU Money Laundering Authority (AMLA), Finance Minister Florian Tursky (ÖVP) confirmed Tuesday ahead of EU finance ministers’ consultations in Brussels. He sees “good chances that we will be successful” for Vienna.
There are several candidates, with competitors such as Madrid and Paris. According to Tursky, Vienna is one of the most livable cities in Europe and always “a good place for international organizations”. Austria has often demonstrated this and can be credible on this point.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
