EBA consults on its proposal for a centralised database in combating AML/CFT

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The European Banking Authority (EBA) has issued a consultation proposing a centralised database that collects and stores information on banks that demonstrate weaknesses in their AML efforts, as well as measures that national regulators are taking to crack down on institutions that perform poorly. Given the significant operational and reputational impacts, all Financial Institutions should take the time to provide comment.


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