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The European Banking Authority (EBA) published today its first Report* on competent authorities’ approaches to the anti-money laundering and countering the financing of terrorism (AML/CFT) supervision of banks. This publication is part of the EBA’s new role to lead, coordinate and monitor the fight against money laundering and terrorist financing (ML/TF) in all EU Member States, which is further explained in the accompanying factsheet.
The EBA’s findings show that most competent authorities in this year’s sample are taking significant steps to strengthen their approach to AML/CFT supervision. AML/CFT supervisory staff have a good understanding of international and European AML/CFT standards and are committed to the fight against financial crime. Several competent...
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