AML Supervision - A Stronger Role for the EBA?

The European Commission (“EC”) is proposing to strengthen the European Banking Authority’s (the “EBA’s”) role in the supervision and enforcement of anti-money laundering and terrorist financing (“AML”) rules. Among other things, the EC’s proposals would empower the EBA to request national supervisors to investigate suspected breaches of AML requirements and, in some circumstances, to require financial sector operators to comply with their AML obligations.

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