POLICY
The location of the new EU anti-money laundering agency (AMLA) is expected to be determined at the end of February. Today, Finance Minister Magnus Brunner (ÖVP) is promoting Vienna as a Brussels location. In return, employees are promised climate tickets.
01/30/2024 09:00
Online since today, 9am
In addition to the climate ticket, future AMLA employees should have the opportunity to take the “Professional Master's Degree in Financial Supervision” at WU, which is normally reserved for Austrian finance employees. According to the official announcement, between 250 and 400 employees are initially expected.
According to the official letter of application, the Republic intends to make 10,440 square meters of the “Village im Third” neighborhood available to the new EU agency. The Austrian State itself wants to cover the expected rent of almost 243 thousand euros per month. However, the building would not be fully ready until the end of 2026. Until then, Vienna can offer alternative locations.
ORF analysis: Vienna requests AMLA localization
The EU is launching a new anti-money laundering authority (AMLA). Vienna signed up as a location. ORF correspondent Benedict Feichter reports.
Eight competitors in the race
“The new anti-money laundering authority will need the best employees and the best environment for its demanding task”, announced Finance Minister Brunner in advance in a broadcast. “Vienna is the ideal European choice due to its many years of experience as the seat of international institutions, excellent infrastructure and high quality of life.”
In addition to Vienna, Paris, Frankfurt, Rome, Madrid, Brussels, Riga, Vilnius and Dublin are also competing. It is the first time that public hearings have been part of the selection process for the headquarters of a new EU agency. The reason is that the European Court of Justice gave Parliament the same say as the Council in determining the city that will host the headquarters of future agencies. The location of the agency will then be determined by a joint decision of Parliament and the Council.
The new agency was created as part of the EU's anti-money laundering package. It will directly supervise up to 40 cross-border financial institutions (including crypto service providers) identified as high risk for money laundering. For the remaining financial companies, supervision remains the responsibility of national authorities. In the non-bank sector, AMLA should also be able to support national authorities.