Frankfurt chosen by EU council for anti-money laundering agency, but parliament to vote later

The German city beat eight other European cities including Dublin in the EU Council vote, but the final result hangs with the European Parliament

Mairead McGuinness: the Anti-Money Laundering Authority is to be established under EU legislation to prevent money laundering and is led by Ireland’s European commissioner. Picture: EU/Lukasz Kobus

Frankfurt won a preliminary vote in the Council of European Union member states to become the home of the new Anti-Money Laundering Authority (Amla), according to people familiar with the matter.

Germany’s financial hub edged out second favourite Paris, according to the people who spoke under the condition of anonymity because the decision is private.

A final vote with members of the European Parliament is due later on Thursday and another city could still emerge ...