European Banking Authority’s new Anti-Money Laundering provisions, article published in Thomson Reuters Regulatory Intelligence, September 2021
Founding Partner Gelu Maravela recently authored an article which was originally published in Thomson Reuters’ Regulatory Intelligence, with regards to the European Banking Authority’s new Anti-Money Laundering provisions. Developments in technology, together with globalisation, have been accompanied by the proliferation of certain types of misconduct, with instances of fraud sometimes appearing to increase on a daily basis. In an effort to improve competent authorities’ and financial sector operators’ understanding of the anti-money laundering (AML) regulatory framework, on August 2 the European Banking Authority (EBA) launched a public consultation paper on draft guidelines regarding the policies and procedures in relation to compliance management, and the role and responsibilities of the anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officer under Article 8 and Chapter VI of Directive (EU) 2015/849 (the guidelines). The complete article, initially published By Thomson Reuters is available here or, directly on Thomson Reuters’ website here.