In January we launched our central EU AML/CFT database, EuReCA, the European Reporting system for material AML/CFT weaknesses. EuReCA is based on the draft Regulatory Technical Standards (RTS) published in December 2021 that define key terms and type of information to report to EuReCA. EuReCA brings together in one place information from competent authorities (CAs) across the EU that relates to serious AML/CFT shortcomings in individual financial institutions, and the measures CAs have taken to rectify those shortcomings.

EuReCA will be key to strengthening AML/CFT supervision and coordinating supervisory efforts across the EU.