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LATEST: EBA recommends overhaul of virtual IBANs due to money laundering risks

By PAUL O’DONOGHUE, Senior Correspondent The European Banking Authority (EBA) has proposed an overhaul in the way that financial institutions and EU laws deal with virtual IBANs (vIBANs). “vIBANs are not always recognised as such by the industry and national authorities,” the EBA said. “As a result, the full extent of the issuance of vIBANs…

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