Central Banking

EBA finds distortion in e-money practices across EU

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Anti-money laundering and counter-terrorist financing legislation governing electronic money is interpreted differently across European Union (EU) member states, according to the latest findings by the European Banking Authority (EBA).

The EBA released a report on December 7 saying the discrepancies between the treatment of the issuance, distribution and redemption of e-money across the union may undermine the European Commission's aims of a harmonised market-place. "They suggest that the

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