Regulatory Alerts2025-01-01
EBA Opinion on money laundering and terrorist financing risks affecting the EU financial sector
The European Banking Authority issued its fifth biennial Opinion on money laundering and terrorist financing risks, addressing EU co-legislators and competent authorities to inform supervisory practices and the Supranational Risk Assessment. The document highlights escalating vulnerabilities in FinTech, RegTech, and crypto asset sectors, while noting that AI-driven fraud and complex sanctions regimes further challenge compliance. Although risks related to tax crimes and unwarranted de-risking are decreasing, the EBA emphasizes the urgent need for consistent risk-based approaches and robust controls to address persistent gaps in customer due diligence and emerging technological threats.
Share