The Members Research Service of the European Parliament wrote a briefing on the proposal to amend Directive (EU) 2019/1153, single access point to bank account registries, read the press release:

Proposal to amend Directive (EU) 2019/1153: Single access point to bank account registries [EU Legislation in Progress]
The search to obtain, and retain, profits from crime is a key motivation of financial crime, including money laundering. For this reason, financial investigation is a valuable tool in the investigation and prosecution of these crimes.

Members’ Research Service/ May 17, 2022
Written by Ann Neville (1st edition).

Financial information is vital for the investigation of serious crime and for the freezing of the proceeds of crime, but EU investigators often lack the tools for effective investigation, especially when dealing with cross-border crime. The proposed amendment to Directive (EU) 2019/1153 would allow designated competent authorities responsible for the prevention, investigation, detection or prosecution of criminal offences to access and search Member States’ centralised bank account registers through a single access point. This would enable them to establish almost immediately whether an individual holds bank accounts in other Member States and identify to which Member States they should make a formal request for additional information.

The briefing is to be found here.