EU Parliament empowers EBA, prudential regulators to fight money laundering
EU lawmakers on Tuesday adopted measures to task the European Banking Authority (EBA) with fighting money laundering, empower prudential regulators to better address financial crime risks and protect whistleblowers.
Under a legislative resolution to strengthen the bloc’s supervisory authorities, the EBA would take a “leading, coordinating and monitoring role at Union level” to prevent money laundering and terrorism financing. The authority would draft regulatory, supervisory and technical standards on anti-money laundering (AML) efforts by EU member-states.
Read more at KYC360.