December 19, 2018 / 11:12 AM / a month ago

EU states agree stronger money laundering monitoring of banks

BRUSSELS, Dec 19 (Reuters) - European Union governments have reached a preliminary deal to clamp down on money-laundering by strengthening bank supervision through the European Banking Authority (EBA), an EU statement said on Wednesday.

Under the agreed text, as a last resort if national authorities do not act, the EBA would be able to directly force individual banks to take measures against money laundering. (Reporting by Francesco Guarascio, editing by Robin Emmott)

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