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

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.

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 made a series of recommendations, including the harmonis...