Virtual IBAN variance creates money laundering risk, EBA warns

The European Banking Authority (EBA) is warning that differences in the way virtual bank account numbers (vIBANs) are regulated, and even defined, is creating gaps that criminals can exploit for money laundering and terrorist financing.

BySara Lewis

The European Banking Authority (EBA) is warning that differences in the way virtual bank account numbers (vIBANs) are regulated, and even defined, is creating gaps that criminals can exploit for money laundering and terrorist financing.