Anti-Financial Crime & Financial Crime Compliance
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Financial Services

ANALYSIS: The weakness of EU supervision of payment institutions identified in EBA report

The European Banking Authority headquarters in Paris, France.

THE European Banking Authority (EBA) this week revealed weaknesses in the supervision of payment institutions over their AML controls. The report, based on the EBA’s review of its guidelines on authorizations and risk-based supervision, raises concerns about the adequacy of internal controls, risk assessments and supervision practices across EU member states. It also highlights deficiencies…

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