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Anti-money laundering and countering the financing of terrorism supervision is improving but not always effective yet, finds the EBA
The EBA published today the findings from its assessment of competent authorities’ approaches to the anti-money laundering and countering the financing of terrorism (AML/CFT) supervision of banks. Since the EBA started those reviews in 2019 and strengthened its AML/CFT guidance, national supervisors have started to adopt meaningful reforms to improve their AML/CFT supervision, but the EBA found that significant challenges remain in important areas such as the identification and assessment of money laundering and terrorist financing (ML/TF) risks.
Report on CAs approaches to AML CFT supervision.pdf
Report on competent authorities' approaches to AML CFT supervision of banks