EU Moves To Protect Bank Customers From AML 'De-Risking'

Law360, London (June 16, 2020, 1:27 PM BST) -- Europe's banking watchdog said Tuesday it wants to assess how frequently lenders are turning away potential customers or terminating relationships because of money-laundering concerns as they shore up their defenses after a string of scandals.

The European Banking Authority said it wants to hear from consumers who have been "exposed to this phenomenon," which is known as de-risking. The EBA also wants to hear from banks as it seeks to establish how widespread such denial of service has become.

The European Union's money laundering directive obliges banks to vet accounts for possible links to terror or crime cartels. Some lenders have...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!