The European Banking Authority (EBA) has shown its support for the EU Commission’s efforts to strengthen its anti-money laundering and counter terrorism financing AML/CFT framework.

Last week (19/08/20), the EBA published its response to the EU Commission’s action plan in which it provided technical input designed to aid the implementation of the plan.

According to Maltese law firm Mamo TVC, the EBA argued for a full assessment of the current EU AML/CFT framework to ensure the EU and member states are well-equipped with an effective set of tools in its AML/CFT arsenal.

The EBA endorsed the action plan, but...