The Standing Committee on Anti-Money Laundering and Countering Terrorist Financing (AMLSC) is a permanent internal committee within the EBA. It was set up in accordance with the requirements outlined in Article 9a of Regulation (EU) 2019/2175 of the European Parliament and Council.
The primary goal of the AMLSC is to coordinate efforts aimed at preventing and countering the illicit use of the financial system for money laundering and terrorist financing within the EU. Additionally, in the context of Directive 2015/849/EU (AMLD) and Regulation 2015/847/EU (Wire Transfer Regulation), the AMLSC is responsible for preparing all draft decisions to be made by the EBA's Board of Supervisors concerning anti-money laundering and counter-terrorism financing (AML/CFT).
The AMLSC is composed of 57 representatives, including a Chairperson and high-level representatives from all AML/CFT competent authorities. Within this group, one competent authority from each Member State has voting rights (27 in total), while the others are non-voting members (30 in total). The Committee also includes observers from various organisations, such as the European Insurance and Occupational Pension Authority (EIOPA), the European Securities and Markets Authority (ESMA), the Supervisory Board of the Single Supervisory Mechanism (ECB), the European Commission (EC), the EEA EFTA countries represented in the EBA Board of Supervisors, and the EFTA Surveillance Authority (EFTA).