Competent authorities have made significant progress in their approaches to tackling money laundering and terrorist financing, the EBA Report finds

On 13/12/2024, the European Banking Authority (EBA) issued an update regarding Competent authorities have made significant progress in their approaches to tackling money laundering and terrorist financing, the EBA Report finds. However, weaknesses in risk assessment methodologies and enforcement processes were still identified, along with divergent approaches in considering and addressing ML/TF risks by prudential supervisors.