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ARTICLE · 21 JULY 2023

Money Laundering And Terrorism Financing Risks For Payment Institutions

Arendt & Medernach
Arendt & Medernach
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The European Banking Authority published a report on money laundering and terrorist financing risks associated with EU payment institutions. The report finds that these risks may not be assessed and managed effectively by stakeholders.

LuxembourgGovernment, Public Sector
Glenn Meyer
Glenn Meyer
Marc Mouton
Marc Mouton
Sandrine Périot
Sandrine Périot
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The European Banking Authority published a report on money laundering and terrorist financing risks associated with EU payment institutions. The report finds that these risks may not be assessed and managed effectively by stakeholders.

On 16 June 2023, the European Banking Authority ("EBA") published a report on money laundering and terrorist financing risks associated with EU payment institutions. The report finds that these risks may not be assessed and managed effectively by stakeholders.

1. Background

The EBA carried out an assessment of money laundering and terrorist financing risks in the payment institutions sector in 2022. This report contains the EBA's findings, which will be of interest to market participants as it lists a number of areas where improvements are required.

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