Anti-Money Laundering - Objectives and Tasks

​​​The Joint Committee carries out work in areas related to anti-money laundering and terrorist financing (hereinafter as "AML"). In particular it:

  • Acts as a forum for the exchange of supervisory experiences and practices between supervisory authorities in relation to AML;
  • Provides regulatory and supervisory input to supervisory measures for combating money laundering, under the Anti-Money Laundering Directive (Directive (EU) 2015/849);
  • Provides regulatory and supervisory input to supervisory measures arising out of other regulation impacting on Money Laundering such as the relevant parts of the Payment Services Directive(Directive (EU) 2015/2366), E Money Directive (Directive 2009/110/EC), and the Wire Transfer Regulation (Regulation (EU) 2015/847);
  • Provides expert input to the contributions that the Committee on the prevention of Money Laundering and Terrorist Financing (CPMLTF) or other bodies will request from EBA, ESMA and EIOPA, through their Joint Committee; and
  • Fulfils any other specific tasks related to AML, set out and agreed by the ESAs' governing bodies, as appropriate.

To achieve these tasks the Joint Committee assists the ESAs to:

  • Prepare joint positions (Article 56 of the ESA Regulations) on issues pertaining to combating money laundering;
  • Prepare common acts (Article 56 of the ESA Regulations), such as draft regulatory technical standards, as defined in Article 45(6) and (10) of the Anti-Money Laundering Directive (Directive 2015/849/EC), and guidelines and recommendations in the area of combating money laundering;
  • Prepare opinions (based on Article 34 of the ESA Regulations) on combating money laundering, either on its own initiative or upon a  request ("Call for Advice") from the European Parliament, the Council or the Commission; and take decisions (Article 20 of the ESA Regulations) in the area of combating money laundering.​