EBA Explores SupTech in AML/CTF Supervision Report

The report draws on a survey of National Competent Authorities and a dedicated workshop focused on SupTech adoption.

Key insights from the report include:

➡️ Stage of implementation: 47% of tools or projects identified are already in production, 38% are under development, and 15% remain in exploratory phases;

➡️ Benefits of tooling: Reported advantages include improved data quality, enhanced analytics and decision-making, greater operational efficiency, stronger risk assessments, and increased collaboration;

➡️ Challenges facing use: Key obstacles include data quality issues, governance limitations, resource constraints, legal uncertainties, accountability gaps, and resistance to change; and

➡️ Tangible steps: The report outlines good practices that can be adopted to effectively harness SupTech tools, overcome implementation challenges, and maximise their benefits.

✅ Firms operating in the EU should review the report to identify relevant insights and recommendations for the private sector’s use of regulatory technology in Financial Crime Compliance (FCC).

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