EBA finds that money laundering and terrorist financing risks in payments institutions are not managed effectively

The European Banking Authority (EBA) published on 16 June 2023 its report on money laundering and terrorist financing (ML/TF) risks associated with EU payment institutions. The report suggests that payment institutions may not be managing ML/TF risks adequately and that AML/CFT internal controls in payment institutions are often insufficient to prevent ML/TF.

In this alert, you will read more about the key findings, conclusions, and how Deloitte can help.