EBA issues new guidelines on customer access to financial services

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The European Banking Authority [EBA] has issued new guidelines for firms to ensure that customers have access to financial services they require to participate in society, and are not denied access on unsubstantiated AML/CTF grounds.

Through the guidance, the EBA aims to aid institutions in developing common ML/TF risk management practices and common understandings to help safeguard access to financial products and services for customers, particularly the most vulnerable.

Guidance is provided on:

  • Compliance and reporting obligations;
  • Subject matter, scope and definitions;
  • Implementation of guidelines.

Firms should read the new EBA guidelines, and ensure that their processes align with the guidance.


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