Establishment of the EU Anti-Money Laundering Authority in Frankfurt sends a strong signal against financial crime and for fair competition

NRW Jürgen Schnitzmeier, spokesman for the working group of German financial centers Germany Finance, welcomes the establishment of the European Anti-Money Laundering Authority in the financial center Frankfurt am Main:
„Effective control and combating of money laundering and financial crime is an important prerequisite for fair competition and successful financial and investment locations. Against this background, the decision of the EU Parliament and the Council of the European Union to establish the new Anti-Money Laundering Authority in the financial center of Frankfurt am Main is a clear signal against the increasing illegal practices and for strengthening Germany as an international financial center. Particularly against the backdrop of the necessary transformation of the economy and the challenges of transformation financing, effectively combating financial crime and establishing financing standards for fair competition is of paramount importance. This strengthens Germany as an investment location overall.“
Frankfurt am Mai is an international banking and financial center in the heart of Europe, is home to the European Central Bank (ECB) and offers a perfect infrastructure and networking culture with residents from 180 countries.
The NRW financial center initiative Fin.Connect.NRW to support the transformation financing and networking of the financial and real economy as well as the financial centers in Berlin (Finanzplatz Berlin), Hamburg (Finanzplatz Hamburg) and Stuttgart (Stuttgart-Financial) congratulate Frankfurt am Main in particular our colleague Andreas Glänzel (Frankfurt Main Finance) and wish the new authority a successful start.