20230616 - EBA Report On Money Laundering Terrorist Financing Risks Associated With Payment Institutions

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This report by the EBA which finds that money laundering and terrorist financing risks in payments institutions are not managed effectively refers to "New client typologies are also emerging, such as platforms and marketplaces, which, by creating additional layers, seem to increase the overall ML/TF risk level.".  The report is a good read for any bank or financial institution involved with payments and especially for Money Laundering Compliance Officers (in Ireland the equivalent being PCF-52 role holders).

Also interesting to read at page 16 of 28 that "The EBA found that not all supervisors are doing enough to manage ML/TF risks in the sector effectively.".

https://complireg.com/blogs--insights/eba-report-on-money-laundering-terrorist-financing-risks-associated-with-payment-institutions