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Anglo Austrian AAB should lose appeal against ECB over license withdrawal, court opinion says

( April 11, 2024, 09:26 GMT | Official Statement) -- MLex Summary: Anglo Austrian AAB should lose its legal challenge — brought in liquidation — against the European Central Bank over the latter's withdrawal of the private bank's authorization to act as a credit institution. In 2019, the ECB ordered the withdrawal over allegations of breaching anti-money laundering and terrorist financing rules. In her non-binding opinion for the bloc's top court, Advocate General Tamara Ćapeta suggested the ECB did not exceed its powers by withdrawing a banking authorization as a result of money laundering allegations — a matter usually governed by national authorities.The Advocate General opinion is attached. Case reference is C-579/22. ...

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