On 16 December 2024, the European Banking Authority (EBA) issued its fourth report on the functioning of anti-money laundering and countering the financing of terrorism (AML/CFT) colleges.

The report sets out findings and observations from EBA staff’s monitoring of AML/CFT colleges in 2023, which suggest that, overall, Member State competent authorities (NCAs) continued to improve the effectiveness of AML/CFT colleges. The EBA, nevertheless, identified two key areas in which the progress made by NCAs was seen as insufficient, namely: (i) implementing the risk-based approach to the organisation of colleges; and (ii) ensuring that discussions on the need for a common approach are meaningful and systematic.