The Cyprus Securities and Exchange Commission (CySEC) is encouraging regulated entities to participate in two public consultations launched by the European Anti-Money Laundering Authority (AMLA), as the European Union moves to strengthen and harmonise its anti-money laundering framework.
Covering draft technical standards, the consultations will help shape how suspicious activity is reported and how non-financial businesses are assessed for money laundering and terrorist financing risks across the bloc. For regulated firms, the outcome will define future compliance obligations.
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First Consultation Focuses On Suspicious Transaction Reporting
One consultation concerns the draft Implementing Technical Standards (ITS) under Article 69(3) of Regulation (EU) 2024/1624, which set out the format for reporting suspicious transactions and for submitting transaction records.
CySEC said the draft standards, supporting documents and consultation response form are available on AMLA’s website, with comments accepted until September 20, 2026.
AMLA will also host a public hearing on September 9 from 10:00 a.m. to 12:00 p.m. CEST.
Second Consultation Targets Non-Financial Sector Risk Assessment
Another consultation focuses on draft Regulatory Technical Standards (RTS) under Article 40(2) of Directive (EU) 2024/1640 (AMLD 6). The proposal introduces a common methodology for assessing the inherent and residual money laundering and terrorist financing risks of non-financial obliged entities.
Comments may be submitted until September 27, 2026, while a second public hearing is scheduled for September 10.
According to CySEC, the consultation is particularly relevant for non-financial entities under its supervision, including administrative service providers and crowdfunding service providers.
Toward A Harmonised EU Framework
According to AMLA, the proposed methodology would establish a consistent approach to assessing money laundering risks across all EU member states, allowing supervisors to evaluate comparable businesses using the same standards.
Feedback is also being sought on whether the reporting requirements are proportionate, practical and cost-effective, particularly for smaller organisations. Simplified reporting obligations are proposed for smaller entities, while supervisors would be able to rely on information already available to them instead of requesting duplicate data.
Implementation of the new framework is expected to begin in December 2028, with the first risk assessments under the harmonised system scheduled for 2029. Until then, national supervisors will continue applying their existing methodologies while preparing for the transition.
Businesses, supervisory authorities, financial intelligence units, industry bodies, academics and other stakeholders are encouraged by AMLA to submit feedback before the standards are finalised.
