EBA gains AML muscle but EU members resist centralised supervision

By Jasper Cox
25 Mar 2019

The European Council and Parliament signed a deal last week regarding the bloc’s financial supervisors. The European Banking Authority was set to receive new anti-money laundering (AML) responsibilities, but member states blocked some attempts to centralise supervisory powers.

The Council boasted that the EBA would be receiving increased powers when it came to anti-money laundering and terrorist financing.

The move comes after a spate of money laundering scandals at European banks. Estonia forced Danske Bank of the country after large flows of suspicious money flowed through its ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial