Overview   News

This is the last issue of the EBA’s AML/CFT Newsletter. Since its launch in 2020, the newsletter has provided regular updates on the EBA’s work to strengthen the EU’s AML/CFT framework.

The EBA’s AML/CFT Unit would like to thank all readers for their continued engagement and interest over the years, and for their shared commitment to safeguarding the integrity of the EU financial system.

Thank you for following our journey.

In September, the EBA hosted the thirtieth – and final – meeting of its Anti-Money Laundering Standing Committee (AMLSC). For five years, the AMLSC has been a cornerstone of EU-level coordination in the fight against money laundering and terrorist financing (ML/TF), bringing together supervisors, policymakers, and observers to strengthen Europe’s defences against financial crime. 

We extend our sincere thanks to all members, observers, and colleagues who have contributed to this collective effort. 

Learn more about the transition to AMLA in our factsheet.

This is the last issue of the EBA’s AML/CFT Newsletter. Since its launch in 2020, the newsletter has provided regular updates on the EBA’s work to strengthen the EU’s AML/CFT framework.

The EBA’s AML/CFT Unit would like to thank all readers for their continued engagement and interest over the years, and for their shared commitment to safeguarding the integrity of the EU financial system.

Thank you for following our journey.

In October, we also published our annual report on supervisory convergence. This report provides an overview of the actions taken by the EBA over the course of 2024 in this context.  

For AML/CFT, actions included peer reviews, setting supervisory priorities, and liaising with competent authorities on specific cases where ML/TF risks materialised. These complemented reviews of authorities’ supervisory approaches and the monitoring of AML/CFT colleges.

In 2019, the EBA, together with the European Supervisory Authorities (ESAs), set up a framework for AML/CFT colleges in the financial sector. The intention was to institutionalise cooperation between competent authorities, to make AML/CFT supervision more targeted and effective. Since then, more than 260 AML/CFT colleges have been established. The EBA has been monitoring the functioning of AML/CFT colleges since their inception. 

In October, we published our last report on the functioning of AML/CFT colleges, summarising key trends and outcomes from its monitoring activities in 2024 and 2025. The colleges' framework remained stable, with a slight reduction in numbers due to mergers or terminations, continued effective information exchange, and a saw a small increase in third-country observer participation. However, limited progress was observed in implementing a risk-based approach to college organisation and ensuring systematic discussions on common ML/TF risks. 

From 1 January 2026, AMLA will assume responsibility for monitoring AML/CFT colleges.

TEST

Since we launched EuReCA in 2022, 45 anti-money laundering and countering the financing of terrorism (AML/CFT) and prudential competent authorities have reported more than 3500 serious AML/CFT deficiencies and remedial measures in respect of 670 financial institutions. EuReCA has become an essential tool for supervisory coordination and risk analysis, enhancing information sharing among competent authorities and supporting the identification of ML/TF risks and trends across the EU.  

On 15 October, we transferred EuReCA to AMLA.

The EBA will complete the transfer of its AML/CFT powers, systems, and expertise to AMLA by 31 December 2025. From 2026 onwards, we will build on our strong cooperation with AMLA to foster a consistent and coherent approach across anti-money laundering and prudential policy and supervision -  an approach that is key to preserving the integrity and resilience of the EU financial system. 

The Memorandum of Understanding (MoU) which we signed with AMLA on 3 July 2025 will serve as a cornerstone of this enhanced collaboration.

In October, we published our response to the European Commission’s (EC) Call for Advice on new mandates for AMLA. The report includes our proposals for four draft Regulatory Technical Standards (RTS) and technical advice on pecuniary sanctions, and information sharing in the intra- group context.  

These standards are central to the new AML/CFT framework. Once adopted, EU AML supervisors will for the first time adopt a consistent approach to enforcement and assess entity-level ML/TF risk in the same way.  AMLA will be able to draw on this work to decide which institutions it will supervise directly. For institutions, key changes relate to common rules on the application of customer due diligence measures. 

It will now fall to AMLA to take this work forward. 

Between 2018 and 2024, we carried out intrusive reviews of the way 40 competent authorities addressed ML/TF risks in the EU banking sector. Following each review, we provided feedback to the competent authorities and issued recommendations as necessary. We also published four reports that summarised our overall findings, with recommendations and best practices. 

This year, we took stock of the actions taken by competent authorities in response to the feedback we provided. We found that competent authorities had made significant progress in strengthening AML/CFT supervision, and in improving cooperation with domestic and international partners. While challenges remain, including staffing and budget constraints, overall effectiveness has improved significantly. The report we published in October summarises our findings. 

AMLA will take this work forward as part of its indirect supervision mandate. 

Since 2018, when certain crypto-asset businesses were first incorporated in  the EU regulatory framework, the EBA has played a central role in strengthening AML/CFT rules and supervision for the sector. Through close engagement with national supervisors, the ESAs, and third-country authorities, we have gathered critical insights into the operations and risks of crypto-asset businesses, both before and after the implementation of the Markets in Crypto-Assets Regulation (MiCA). 

In October, we published a report on tackling ML/TF risks in crypto-asset services, including issuance, trading, and service provision. This aims to support the effective application of MiCA, strengthen AML/CFT supervision, and promote a robust, forward-looking approach to tackling financial crime risks in crypto-assets across the EU.

TheESAs have renewed their warning to consumers on crypto-assets and published a factsheet explaining what MiCA means for consumers, and how consumers can make informed decisions before investing in crypto-assets such as checking if the provider is authorised in the EU.

The EBA has a statutory duty to monitor and assess market developments, including technological innovation and innovative financial services. As part of the EBA’s 2024-25 priorities on innovative applications, the EBA is examining evolutions in the value chain for the distribution of financial products and services.  

In October, we published a thematic report on white labelling in financial services. The report sets out the key features of white labelling and identifies potential opportunities and risks, with a focus on potential challenges for consumers and supervisors. The report flags potential AML/CFT issues, including in respect of customer due diligence. Additional challenges include differences in national identification and verification requirements, fragmented procedures, and difficulties ensuring partners comply with regulatory expectations.

In September, we published our 2026 Work Programme. Although we will have handed over our standalone AML/CFT powers to AMLA, we will continue contributing to tackling AML/CFT through our prudential remit. There will also be some EBA/AMLA joint initiatives, including work on unwarranted de-risking and new guidelines on the cooperation between supervisors and Financial Intelligence Units. 

In October, we launched a public consultation on revisions to our Guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP). Among other measures, we propose to extend them to third-country branches. AML/CFT-related provisions that were already included in those guidelines remain unchanged.

In August, we published a report summarising our findings from a survey of competent authorities and a workshop we held in January together with AMLA on the use of SupTech (supervisory technology).

In July, we published our biennial Opinion on ML/TF risks. We found that, in a context of significant geopolitical developments, legislative reforms and digitalisation, new ML/TF vulnerabilities are emerging. 

In July, ESMA concluded a fast-track peer review on the authorisation of CASPs in Malta. The EBA was a member of the peer review team. Noting that the consistent implementation of the MiCA framework is critical, the peer review issued a set of cross-cutting recommendations applicable to all NCAs currently engaged in CASP authorisation processes.

Between March and June, we publicly consulted on our proposed response to the European Commission’s Call for Advice on regulatory technical standards and guidelines under the future anti-money laundering/countering the financing of terrorism (AML/CFT) framework.

In June, the EBA, together with EIOPA and ESMA, concluded a multilateral Memorandum of Understanding (MoU) with the new AML/CFT Authority, AMLA.