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Anti-money laundering authority: EU authority in Frankfurt: proximity to the ECB was convincing, according to Lindner

Anti-money laundering authority: EU authority in Frankfurt: proximity to the ECB was convincing, according to Lindner

Frankfurt has been awarded the contract: the EU’s new anti-money laundering authority will be built in the Main metropolis.

Federal Finance Minister Christian Lindner sees his choice of Frankfurt as the seat for the European Union’s new anti-money laundering authority confirmed. “Our strong argument was that the proximity to the European Central Bank could have an advantageous effect on the operational work of the new authority. And our arguments obviously convinced many,” said the FDP politician on Friday in Ghent, Belgium, at a meeting with his colleagues EU counterparts. The decision will strengthen Frankfurt’s financial center. “But above all it is good news. Because we will be able to effectively combat financial crime and money laundering in Europe,” said Lindner.

On Thursday evening, a majority of representatives of the EU states and the European Parliament voted in favor of the headquarters of the so-called Amla (Anti-Money Laundering Authority) in the Main metropolis. Germany’s application prevailed with the smallest possible majority against eight European capitals. The Federal Republic, Hesse and the city of Frankfurt want to make at least ten million euros available for the settlement, it was previously said.

Source: Stern

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