Digital Assets/Crypto
AML/CTF/CPF
Industry News
The report outlines the priorities, deliverables, and achievements of the EBA during 2024.
Key takeaways from the report include:
➡️ The EBA completed 93% of the tasks outlined in its 2024 programme of work;
➡️ Following the introduction of the Markets in Crypto-Assets Regulation in 2023, the EBA delivered 20 technical standards and guidelines in 2024, including guidelines on the ‘travel rule’;
➡️ In 2024, the EBA reviewed all 40 Competent Authorities’ (CAs) approach to tackling ML/TF and provided feedback for improvement;
➡️ By the end of 2024, the EBA central database on ML/TF risks (EuReCA) contained data on 2542 material weaknesses and corrective measures across 517 institutions; and
➡️ The EBA provided training to 350 individuals from CAs on assessing ML/TF risks, crypto, and EuReCA.
✅ Firms operating in the EU should review the report to support the identification of key EBA guidelines and initiatives that can facilitate the improvement of their AML/CTF frameworks.
