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EU regulators have broadly failed to gear their supervision towards banks and other institutions where the risk of financial crime is highest, the European Banking Authority, or EBA, warned Tuesday. In a 38-page report, the Paris-based agency disclosed that a review of supervisory practices in seven unidentified EU nations had found several "common challenges," including a poor grasp of specific financial crime-related risks, a propensity for squandering limited resources and a lack of "proportionate and sufficiently dissuasive" penalties for violations. "The review team also found that cooperation with FIUs [financial intelligence units] was not always systematic and in most member...