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EU AML Supervisory Colleges Grow in Number, Effectiveness: EBA

By Koos Couvée

The number of active "colleges" through which national anti-money laundering regulators in the EU share information on the compliance programs of cross-border financial institutions ballooned from only 18 in 2020 to almost 230 by the end of last year. In a 27-page report Thursday, the European Banking Authority noted that national regulators over the past three years have taken steps to share more "substantive, actionable" information through the colleges, but raised concerns that some of the agencies did not meet often enough and struggled to secure buy-in from colleagues outside the EU. "Overall, active monitoring in 2022 showed that AML/CFT...

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