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EU banking sector risked laundering proceeds of Angolan corruption, EBA report finds

By Kathryn Carlson ( February 22, 2022, 11:48 GMT | Insight) -- Almost a third of national banking authorities in the EU responding to a survey took no action in response to reports that they could be exposed to money laundering or terrorist financing, leaving them at risk of “laundering the proceeds from corruption,” the European Banking Authority has said. Proceeds from corruption linked to Isabel dos Santos, the daughter of Angola’s former president, "may not have been detected and may continue to be laundered through the EU’s financial sector,” the EBA said.Almost a third of national banking authorities in the EU responding to a survey took no action in response to reports that they could be exposed to money laundering or terrorist financing, leaving them at risk of “laundering the proceeds from corruption,” the European Banking Authority has said. ...

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