EBA’s database with financial institutions that do not properly comply with AML/CFT rules, ‘EuReCA’, officially has been launched by the European AML/CFT supervisor of banks, the European Banking Authority (EBA), that writes:

EuReCA will contain information on material weaknesses in individual financial institutions in the EU that competent authorities have identified. Competent authorities will also be reporting the measures they have imposed on financial institutions to rectify those material weaknesses.

EuReCA will also collect personal data, read article 15 of the draft RTS, after the RTS has been approved.

More information:

• EBA announcement: EBA launches today ‘EuReCA’, the EU’s central database for anti-money laundering and counter-terrorism financing.
• RTS: Regulatory Technical Standards on a central database on AML/CFT in the EU
• Articles on this blog on EuReCA, EBA.