The European Banking Authority (“EBA”) has published its third report on the functioning of anti-money laundering and countering the financing of terrorism colleges in 2022.
The report focuses on AML/CFT colleges: permanent structures that serve to enhance cooperation between different supervisors involved in the supervision of cross-border institution.
The report covers:
- The EBA’s role in AML/CFT colleges;
- Progress made in improving the functioning of AML/CFT colleges; and
- Further improving the functioning of AML/CFT colleges in the future.
Competent authorities can read the report to identify the good practices which can be adopted to overcome challenges and further improve the effectiveness of AML/CFT colleges.