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EBA calls for input to understand impact of de-risking on financial institutions and customers
The European Banking Authority (EBA) issued today a call for input to understand the scale and drivers of ‘de-risking‘ at EU level and its impact on customers. This call, which forms part of the EBA’s work to lead, coordinate and monitor the EU financial sector’s AML/CFT efforts, aims primarily to understand why financial institutions choose to de-risk instead of managing the risks associated with certain sectors or customers. This call for input is of interest to stakeholders across the financial sector and its users, as the EBA wants to hear from all groups affected by de-risking. The call for input runs until 11 September 2020.
Public hearing on draft revised ML/TF Risk Factors Guidelines
EBA AML Newsletter_Issue 1-.pdf
AML/CFT Newsletter
EBA Report on inquiry into Cum-Ex.pdf
EBA Report on inquiry into Cum-Ex
Article
45Action plan on dividend arbitrage trading schemes Cum-ExCum-Cum.pdf
Action plan on dividend arbitrage trading schemes (“Cum-Ex/Cum-Cum”)
EBA publishes its inquiry into dividend arbitrage trading schemes (“Cum-Ex/Cum-Cum”), and announces a 10-point action plan to enhance the future regulatory framework
The European Banking Authority (EBA) published today the results of its inquiry into dividend arbitrage schemes, which looked into the actions of prudential and anti-money laundering (AML) and countering the financing of terrorism (CFT) supervisors in dealing with such schemes. The resulting Report sets out the EBA’s expectations of credit institutions and national authorities under the current regulatory framework. The EBA also decided on a 10-point action plan for 2020/21 to enhance the future framework of prudential and anti-money laundering requirements covering such schemes.
EBA welcomes EU Commission launch of AML/CFT action plan and stands ready to provide support
The European Banking Authority (EBA) welcomed today the EU Commission’s action plan on anti-money laundering and counter terrorist financing (AML/CFT), and stands ready to support the Commission’s considerations through the consultation, whilst continuing to fulfil its recently strengthened mandate to prevent ML/TF and use new powers to lead, coordinate and monitor the EU financial sector’s fight against ML/TF.
AML CFT Factsheet.pdf
AML/CFT Factsheet
Report on CA approaches to AML CFT.pdf
EBA report on competent authorities’ approaches to the anti-money laundering and countering the financing of terrorism supervision of banks
JC 2019 87 CP on draft GL on MLTF risk factors.pdf
JC 2019 87 CP on draft GL on MLTF risk factors
EBA consults on revised guidelines on money laundering and terrorist financing risk factors
The EBA issued today a public consultation on revised money laundering and terrorist financing (ML/TF) risk factors Guidelines as part of a broader communication on AML/CFT issues. This update takes into account changes to the EU Anti Money Laundering and Counter Terrorism Financing (AML/CFT) legal framework and new ML/TF risks, including those identified by the EBA’s implementation reviews. These Guidelines are central to the EBA’s work to lead, coordinate and monitor the fight against money laundering and terrorist financing, explained in the accompanying factsheet. The consultation runs until 5 May 2020.
Guidelines on ML/TF risk factors
EBA acts to improve AML/CFT supervision in Europe
The European Banking Authority (EBA) published today its first Report on competent authorities’ approaches to the anti-money laundering and countering the financing of terrorism (AML/CFT) supervision of banks. This publication is part of the EBA’s new role to lead, coordinate and monitor the fight against money laundering and terrorist financing (ML/TF) in all EU Member States, which is further explained in the accompanying factsheet.
ESAs transform the way competent authorities cooperate with each other on AML/CFT matters
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today Joint guidelines on cooperation and information exchange, establishing colleges of anti-money laundering and countering the financing of terrorism (AML/CFT) supervisors for the first time in the EU to ensure effective cooperation and information exchange between competent authorities. These measures are needed to strengthen the EU’s AML/CFT efforts.
Joint Opinion on the risks on ML and TF affecting the EU's financial sector.pdf
Joint Opinion on the risks of ML and TF affecting the EU’s financial sector
Joint Opinion on the risks on ML and TF affecting the EU's financial sector.pdf
Joint Opinion on the risks of ML and TF affecting the EU’s financial sector
ESAs highlight money laundering and terrorist financing risks in the EU financial sector
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today their second joint Opinion on the risks of money laundering (ML) and terrorist financing (TF) affecting the European Union's (EU) financial sector. Drawing on data and information provided by national anti-money laundering (AML) and countering the financing of terrorism (CFT) competent authorities (CAs), the ESAs found that the monitoring of transactions and suspicious transactions reporting still raise concerns, particularly in sectors where a financial institution’s business model is based on frequent transactions. This Opinion contributes to strengthening the EU’s AML and CFT efforts.
Opinion on Communication of ML TF risks to supervised entities.pdf
Opinion on Communication of ML TF risks to supervised entities