FIN.

EBA welcomes new EU AML/CTF framework

The EBA has published a statement setting out its AML/CTF priorities for 2024/25. It will focus on:

  • a methodology for selecting financial institutions for direct EU-level AML/CTF supervision;
  • a common risk assessment methodology;
  • information necessary to carry out CDD;
  • criteria to determine the seriousness of a breach of AML/CTF provisions,

and will provide its advice to the Commission in October 2025.

The EBA also says that it welcomes the new framework that will transform how the EU tackles money laundering and terrorist financing. The new AML package includes a harmonised and single AML/CTF rulebook and establishes AMLA, a dedicated EU AML authority. The EBA will retain its AML/CTF powers until December 2025 and will continue to work closely with AMLA going forward.

Lucy Hadrill