Calls for a clear regulation and efficient
responsibility sharing among authorities
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20 July 2021 – The European Savings and Retail Banking Group (ESBG) welcomes the ambitious AML-CFT
package announced today by the European Commission. The ESBG is hopeful
that the proposal will strengthen the fight against financial crime and calls
for a clear regulation and efficient responsibility sharing between the new EU
authority and the national ones.
and integrated EU-wide supervision and the risk-based approach of the new AML-CFT
regulation are steps in the right direction”, said Joseph Delhaye, Chair of
ESBG’s Legal and Retail Committee.
members are fully committed to continue fighting money laundering and believe
that a clear and practical regulation will be key to make these efforts most
effective”, he added.
for an EU-wide anti-money laundering authority, also part of the package, would
be an extraordinary opportunity to ensure consistent supervisory practices and
a comprehensive view of current and emerging risks. Nevertheless, overlaps with
national authorities must be avoided and centralisation should not come at the
cost of efficiency.
fully supports harmonised guidance, better coordinated implementation and
unified supervisory practices on AML-CFT across the EU”, said WSBI-ESBG
Managing Director, Peter Simon.
looking forward to strengthening the cooperation between supervisors, national Financial
Intelligence Units and the private sector on AML-CFT. Particularly, ESBG
members would truly value more feedback from authorities and supervisors
regarding reporting activities. Close cooperation among all stakeholders is
needed to jointly succeed in the fight against money laundering.
Press contact Leticia Lozano
Senior Communications Adviser
Tel. +32 2211 1196 l GSM. +32 (0) 476 42 09 53
About ESBG: The
European Savings Banking Group (ESBG) has 23 members in 18 countries. As some
of its members are national organisations, ESBG represents the interests of
over 800 banks working responsibly and closely with their communities and SMEs.
Together, ESBG members manage assets worth €5,700 billion, serve 162
million Europeans and employ nearly 660,000 people. ESBG is the regional arm of
the WSBI. Both organisations are headquartered in Brussels.