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ARTICLE · 25 AUGUST 2020

EBA Backs EU Commission's Efforts To Strengthen AML/CFT Framework.

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On 19 August, 2020 the EBA published its response to the European Commission's Action Plan for a comprehensive Union policy

MaltaGovernment, Public Sector
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On 19 August, 2020 the EBA published its response to the European Commission's Action Plan for a comprehensive Union policy on preventing money laundering and terrorism financing (ML/FT), largely throwing its support behind the Commission's Action Plan.

In its response, the EBA has provided technical input designed to better guide the Commission in its implementation of the Action Plan. In the EBA's view, a comprehensive assessment of the current EU AML/CFT framework is necessary to ensure that the EU and the Member States are well-equipped with an effective set of tools in its AML/CFT arsenal.

In endorsing the Action Plan, the EBA has put forward the following recommendations:

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