EU AML Regulation AMLR
European Union
2024
AML/CFT
Overview
Key Obligations
- Enforce uniform customer due diligence (CDD) and know-your-customer (KYC) measures across the EU
- Mandate real-time verification of beneficial ownership information and public access to registers
- Extend AML obligations to crypto-asset service providers (CASPs) and crowdfunding platforms
- Require risk assessments at entity and sector level with mitigation controls
- Introduce standardized procedures for dealing with PEPs and high-risk third countries
- Require reporting of suspicious transactions and maintaining records for at least five years
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Related Regulations
FAQ
What is the main purpose of AMLR?
To establish a single, directly applicable AML framework across the EU, replacing fragmented national rules.
Who does AMLR apply to?
It covers banks, CASPs, real estate agents, auditors, lawyers, crowdfunding platforms, and other obligated entities.
When does AMLR come into effect?
It was adopted in 2023, with full application expected by 2027 after the transition period and technical standards are finalized.
How does AMLR differ from previous directives like AMLD5 or AMLD6?
Unlike directives, AMLR is a regulation that applies uniformly across all member states without needing national transposition.