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Frankfurt has won the race to host the EU’s prestigious new anti-money laundering authority, AMLA, the centrepiece of reforms that follow a series of dirty money scandals. Germany’s financial centre beat off competition from major cities including Paris, Madrid and Rome, in a Thursday night (22 February) vote procedure that could set a new precedent for the future siting of EU agencies. “We’ve had so many wake-up calls in recent years when it comes to dirty money being washed through the mainstream of the financial system,” the European Commission’s Mairead McGuinness told reporters. “Tonight …

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