EBA calls for tighter money-laundering curbs on crowdfunding

Money laundering

The European Banking Authority (EBA) has called for a major tightening of anti-money laundering (AML) and combating the financing of terrorism (CFT) regulation for Europe’s financial technology sector.

The EBA has asked for the European Commission (EC) to make the principle of consumer protection key to its approach to regulating financial technology (fintech). In March, the EC issued a consultation document on fintech, to which the EBA published a draft response on June 15.

Some crowdfunding