On 24 March 2022, there was published a letter from the European Banking Authority (EBA) to John Berrigan (Director General, Directorate-General for Financial Stability, Financial Services and Capital Markets Union) and others regarding the European Commission’s anti-money laundering / countering the financing of terrorism (AML/CFT) package and issues related to supervisory cooperation and selection criteria for direct supervision.

The EBA explains that it is working closely with 57 AML/CFT supervisors from all Member States that are members of its AML/CFT standing committee. AML/CFT experts participating in this committee have identified a number of technical points that relate to the future approach to AML/CFT regulation and supervision and these are set out in the letter.