EBA Report on competent authorities’ responses to the 2020 Luanda Leaks

The EBA published the findings of its assessment of competent authorities’ responses to the 2020 Luanda leaks. The EBA found that competent authorities across the EU adopted significantly different approaches for identifying and tackling money laundering (ML) and terrorist financing (TF) risks highlighted by the leaks. These approaches varied beyond what the EBA would have expected under a risk-based approach. The information contained in the documents leaked by the International Consortium of Investigative Journalists (ICIJ) on the financial affairs of Isabel dos Santos or her associates raised a number of concerns, that included the risk that financial institutions in the EU were handling the proceeds from corruption.

Please find the report here.