EU to set up cross-border AML bodies for some banks
The European Union’s national financial authorities will have to set up cross-border bodies to deal with money-laundering risks at certain banks, the three European Supervisory Agencies announced.
Supervisors will have to create a “college” for any credit institution operating in more than three EU countries to monitor anti-money laundering and counter the financing of terrorism risks, the ESAs say. Financial supervisors from each relevant country will join the “colleges”, along with “other
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