Europe’s new anti-money-laundering watchdog is moving toward a pivotal phase in its effort to establish direct oversight over some of the bloc’s largest cross-border financial institutions, with the first shortlist of potential targets expected by the end of September 2026.
The European Anti-Money Laundering Authority (AMLA), the EU body created to strengthen the bloc’s defenses against illicit finance, has issued a new set of technical guidelines that will initiate the collection of data from banks and financial firms that could fall under its direct supervision beginning in 2027.
The process marks a major step in the rollout of AMLA’s mandate, which is designed to centralize oversight of high-risk financial institutions operating across multiple EU jurisdictions-a task that has historically been handled at the national level.
Under the framework, national supervisory authorities will gather information from the banks and financial institutions under their oversight and submit it to AMLA, which will conduct the final assessment of which firms meet the criteria for direct supervision.
The exercise is aimed primarily at banking groups and financial institutions with a significant cross-border footprint, particularly those operating in at least six European Union member states through subsidiaries, branches or cross-border services.
AMLA has laid out a detailed timetable for the process. The authority will hold a technical briefing for financial institutions on June 10, 2026, before national supervisors complete data collection by Aug. 15. A subsequent review and reconciliation period between AMLA and national authorities will follow, culminating in a preliminary list of institutions eligible for direct supervision by late September.
At present, no Greek bank meets AMLA’s existing thresholds for inclusion in the direct supervisory regime. However, Eurobank, one of Greece’s largest lenders, is seen as the institution most likely to move closer to those criteria over time, reflecting its expanding international presence and growing operations outside its home market.
The selection process is closely watched across Europe as it will effectively define the first group of institutions to come under the authority of AMLA, a cornerstone of the EU’s broader effort to tighten anti-money-laundering controls following a series of high-profile financial scandals across the region.
