After the EBA board decided to drop the investigation over the jurisdictions linked to the Russian Laundromat, EU political bodies have decided to take action and to ensure that proper oversight.
EBA has defended its position to not proceed with the investigation in a number of letters to the different authorities (as reported)
The board recognised that there were shortcomings but considered that the same were not direct violations of EU laws.
On the other hand, the EU commission Vice President noted: “It is disappointing that the board of supervisors of the EBA did not act on one of the biggest money-laundering scandals in Europe,”
This episode of the Danske Bank scandal may be the first step into a political and administrative reform at EBA level.
