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Colleges on anti-money laundering and countering the financing of terrorism have become more effective but further progress is needed, the EBA finds
The European Banking Authority (EBA) today published its fourth Report on the functioning of anti-money laundering and countering the financing of terrorism (AML/CFT) colleges. The Report finds that competent authorities continued to improve the functioning of AML/CFT colleges in 2023. Nevertheless, further progress is needed especially in two key areas, namely: adjusting the functioning of AML/CFT colleges to the money laundering and terrorist financing (ML/TF) risks to which the underlying firm is exposed, and discussing the need for a common approach or joint action.
Report on the functioning of AML/CFT colleges in 2023
Report on NCAs approaches to the supervision of banks with respect to AML/CFT
Factsheet on countering terrorist financing
Competent authorities have made significant progress in their approaches to tackling money laundering and terrorist financing, the EBA Report finds
The European Banking Authority (EBA) today published the findings from its fourth and final round of reviews of competent authorities’ approaches to tackling money laundering and terrorist financing (ML/TF) risks in the banking sector. With this round, the EBA has now assessed all competent authorities that are responsible for the AML/CFT supervision in thirty EU/EEA member states.
EBA proposes criteria to appoint a central contact point for crypto-asset service providers to strengthen the fight against money-laundering and terrorism financing in host Member States
The European Banking Authority (EBA) today launched a public consultation on draft Regulatory Technical Standards (RTS) specifying the criteria according to which crypto-asset service providers (CASPs) should appoint a central contact point to ensure compliance with local anti-money laundering and countering the financing of terrorism (AML/CFT) obligations of the host Member State. This consultation runs until 4 February 2025.
Consultation on Regulatory Technical Standards on CCP to strengthen fight against financial crime
Consultation paper on amending RTS on Central Contact Point
Preventing money laundering and terrorism financing in the EU's crypto assets sector - explainer
Guidelines on internal policies, procedures and controls to ensure the implementation of Union and national restrictive measures
The EBA issues final guidance on internal policies, procedures and controls to ensure the implementation of Union and national sanctions
The European Banking Authority (EBA) today published two sets of final Guidelines that, for the first time, set common EU standards on the governance arrangements and the policies, procedures and controls financial institutions should have in place to be able to comply with Union and national restrictive measures.
AML/CFT Newsletter - Issue 13
The EBA issues ‘travel rule’ guidance to tackle money laundering and terrorist financing in transfers of funds and crypto assets
The European Banking Authority (EBA) today published its final Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.
Getting ready for AMLA: the EBA’s contribution to the new AML/CFT regime
The EBA welcomes the entry into force of the framework establishing the anti-money laundering and countering the financing of terrorism authority
The European Banking Authority (EBA) welcomes the entry into force of the new EU framework that will transform how Europe tackles money laundering and terrorist financing. The EBA is proud to be paving the way for the establishment of the new anti-money laundering and countering the financing of terrorism authority (AMLA) and is committed to facilitating a smooth transition, and making the EU a hostile place for financial crime.
Report on virtual IBANs
The EBA finds divergences in the issuance and regulation of ‘virtual IBANs’ across the EU, identifies issues, and provides recommendations on how to address them
The European Banking Authority (EBA) today published a Report on the issuance of what is commonly referred to as ‘virtual IBANs’ (vIBANs). In the absence of a common definition, the Report observes that the industry issues vIBANs in different ways and for different purposes and national authorities diverge in interpreting and applying regulatory requirements. The Report also identifies resulting issues in terms of money laundering and terrorist financing, consumer and depositor protection, authorisation and passporting, and regulatory arbitrage, and provides recommendations on how to address them.
Joint Controllership Arrangements - EuReCA
The EBA will start collecting information on natural persons through its AML/CFT database, EuReCA
Starting from May 2024, supervisors across the European Union (EU) will be able to report names of natural persons to EuReCA, the EU central database on anti-money laundering (AML) and countering the financing of terrorism (CFT) of the European Banking Authority (EBA). Through EuReCA, the EBA has been able to contribute to making supervision more informed, targeted and effective. With this step, the EBA will contribute to further strengthening the fight against money laundering (ML) and terrorist financing (TF) in the EU.