The head of the European Banking Authority (EBA) José Manuel Campa has warned that his mandate does not allow him to stop the rising tide of dirty money in Europe’s financial system.

In an interview with the Financial Times, Campa made clear that the €200 billion Danske Bank scandal reveals a broader network of money laundering, as the Danish lender merely played a “coordinating role” and responsibility is dispersed.

Campa does not believe the banking authority alone can face the challenge bec...