In February we published the findings of our assessment of competent authorities’ responses to the 2020 Luanda Leaks. We found that competent authorities across the EU adopted significantly different approaches for identifying and tackling the risks highlighted by the information contained in the leaks, and that these approaches varied beyond what the EBA would have expected under a risk-based approach.
However, we also identified good practices, including steps by competent authorities to put in place dedicated processes to identify and swiftly react to instances of crystallised ML/TF risk. The EBA Risk-Based AML/CFT Supervision Guidelines can also support competent authorities to better identify, assess and manage emerging ML/TF risks holistically and across all areas of supervision.
