John Hurley: Launch of the Single Euro Payments Area (SEPA) Address by Mr John Hurley, Governor of the Central Bank & Financial Services Authority of Ireland, on the Occasion of the Launch of the Single Euro Payments Area, Dublin, 28 January 2008. *  *  *  Introduction Ladies and Gentlemen, Pat McLoughlin, Chief Executive, of the Irish Payment Services Organisation.
  Secondly, it allows for a more efficient application of resources.   Third, it focuses on assessing and devising preventive measures commensurate to the nature of money laundering and terrorism financing (ML/FT) risks in financial institutions. Higher ML/TF risk therefore calls for higher intensity of supervision.