EuReCA database update

Submissions to our AML/CFT database (EuReCA) continue to grow. In 2024 alone, EuReCA received 787 material weaknesses in respect of 267 entities reported by the European authorities. Credit institutions remain the most frequently reported entities, although there has been a rise in submissions related to payment institutions and e-money institutions. Most material weaknesses relate to deficiencies in CDD procedures, particularly in respect to the effectiveness of the ongoing transaction monitoring. The improper use of technology was a factor in more than half of all cases.