EBA sets out methods for AML risk assessments
Reports can be triggered by concerns over authorities’ anti-money laundering frameworks
The European Banking Authority published details on December 17 of its methods of assessing risk in competent authorities’ efforts against money laundering and terrorist financing.
The five-step process begins with EBA staff identifying “emerging risks” in money laundering and terrorist financing to focus on. The EBA staff look for ML/TF risks that will “have an EU-wide impact and affect at least a number of national competent authorities”. They will be guided by, among other sources, the
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