Analysis

EBA's Danske Probe Prompts Calls For New AML Safeguards

Law360, London (June 4, 2019, 8:53 PM BST) -- The European Banking Authority’s decision to drop its probe into the Danske Bank money laundering scandal marked an inauspicious start to its life as the region’s top anti-money laundering supervisor, giving new impetus to efforts to ramp up European Union-level enforcement of dirty money rules.

The banking watchdog closed its investigation into possible supervisory failures by Danish and Estonian regulators after its board of supervisors concluded the lapses did not amount to a breach of EU rules. (iStock) The EBA had been set to flex its new powers when it examined whether possible supervisory failures by Danish and Estonian regulators that...

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