The announcement by the European Banking Authority (EBA) regarding the strengthening of its supervisory measures in the fight against money laundering and terrorist financing (AML/CFT) is an important step in the protection of the European financial system.

By enabling authorities to collect data on individuals involved in significant breaches of AML/CFT obligations, this initiative strengthens the European Union's ability to detect and respond to illicit activities.

The integration of this information into Eureca (the EU's central database dedicated to the fight against AML/CFT) provides authorities with a more comprehensive overview of potential risks. This will allow them to better target their supervisory actions and improve enforcement, thereby strengthening the EU's capacity to prevent and combat money laundering and terrorist financing.

The EBA also underlines the importance of this initiative to improve the transparency of the European financial system, this measure contributes to strengthening confidence in the financial system and protecting the economic stability of the EU.

Overall, this new EBA initiative represents a strong commitment by the EU to combat AML/CFT and strengthen financial security across Europe.