EBA’s final report on AML/CFT colleges shows growing maturity and effectiveness in cross-border supervisory cooperation, with improved information-sharing though gaps remain in risk-based coordination

In its fifth and final report on the functioning of AML/CFT colleges, the EBA concludes that these permanent structures facilitated enhanced supervisory cooperation and information-sharing among competent authorities within the EU. However, the report also notes that many colleges have not yet fulfilled the objective of delivering coordinated responses to cross-entity anti-money-laundering and counter-financing-terrorism (AML/CFT) risks, especially in applying risk-based approaches and discussing common actions…