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Recital 13

Recital 13

(13)To ensure that the AML/CFT central database becomes an effective tool in the fight against money laundering and terrorist financing, it is necessary to ensure that the reporting authorities submit that information to the central database in a timely manner, and to ensure the quality of that information. To that end, information on material weaknesses and measures taken should be submitted without undue delay and reporting authorities should respond without undue delay to any request from the EBA made after any quality check analysis is performed. For the same reason, reporting authorities should ensure the ongoing accuracy, completeness, adequacy and updates of such information, and information on a material weakness should be submitted independently of any measure taken in response to it.

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