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The European Banking Authority (EBA) published today its revised Guidelines on risk-based supervision of credit and financial institutions’ compliance with anti-money laundering and countering the financing of terrorism (AML/CFT) obligations. The Guidelines set out the steps supervisors should take to ensure adequate AML/CFT oversight of their sector and support the adoption, by credit and financial institutions, of effective ML/TF risk management policies and procedures.  The EBA decided to update and strengthen these Guidelines in light of the findings from its ongoing work to review competent authorities’ approaches to AML/CFT supervision. These findings suggest that some competent authorities found the implementation of the risk-based approach to AML/CFT supervision challenging.

The European Banking Authority (EBA) published today its final Guidelines setting out how prudential supervisors, anti-money laundering and countering the financing of terrorism (AML/CFT) supervisors and financial intelligence units (FIUs) should cooperate and exchange information in relation to AML/CFT, in line with provisions laid down in the Capital Requirements Directive (CRD).

The European Banking Authority (EBA) published today its final Report on the feasibility study of an integrated reporting system (IRS).  This Report is the outcome of over two years of effort and active engagement of both national and European authorities, as well as interaction with financial institutions, professional associations and specialised service providers. This study is part of a broader strategy of the European Commission to improve and modernise EU supervisory reporting while minimising the aggregate reporting burden for all parties.