EBA Plans New Regular Audits To Tackle Money Laundering

Law360, London (December 17, 2020, 12:18 PM GMT) -- Europe's top banking watchdog said Thursday it has agreed on a plan for the way it will use its new powers over regulation of money laundering and terrorist financing to carry out regular risk assessments across the bloc.

The European Banking Authority said it has formalized plans for its expanded authority, which now includes monitoring and coordinating Europe's fight against dirty money and financing of terror as it seeks to keep criminals at bay.

The regulator said it will carry out regular risk assessments of the bloc's national watchdogs under the new power. It wants to make sure they are equipped to...

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