EBA CONSULTS ON PLANS FOR A CENTRAL AML DATABASE
May 1st, 2021
The European Banking Authority (EBA) May 6 launched a public consultation (1) on its plans to create a central European Union (EU) AML/CFT database to “serve as an early warning tool” for competent authorities to act before risks “crystalise”. A revised EBA regulation (2) that took effect in January (2020) requires the Paris-based agency to set up the database as a key tool for its pivotal new role overseeing AML/CFT efforts in the 27-nation bloc. The EBA is seeking comments until June 17 on a consultation paper (3) on draft regulatory technical standards ...
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