Anti-Financial Crime & Financial Crime Compliance
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NEWS: AML controls in EU’s payments sector ‘insufficient’ and regulators ‘not doing enough’ to supervise sector – damning EBA report

THE European Banking Authority (EBA) today released a damning report on AML controls in the EU’s payments sector – heavily criticising institutions and their Competent Authorities (CAs). The agency finds that money laundering risks in the payments sectors are likely “not assessed and managed effectively” by institutions and their supervisors. The EBA’s findings suggest that…

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