EBA fifth and final report on the functioning of AML/CFT colleges

The European Banking Authority (EBA) has released its fifth and final report on the functioning of anti-money laundering and countering the financing of terrorism (AML/CFT) colleges, covering the period from 1 January 2024 to 31 May. Overall, the EBA found that the state of the colleges framework has remained stable since December 2023. It concludes that these colleges have been effective in facilitating information exchange and strengthening AML/CFT supervision across the EU. However, the EBA identifies limited progress by supervisors in addressing two key priorities: (i) applying a risk-based approach in the functioning of AML/CFT college meetings meaning that resources were not always allocated to the most strategically important colleges; and (ii) ensuring systematic, meaningful discussions on coordinated responses to shared risks. From 1 January 2026, oversight of AML/CFT colleges will transition to the new Anti-Money Laundering Authority (AMLA), with the EBA's findings expected to inform AMLA's supervisory framework going forward.

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