EBA Payment Institutions ML/TF Risks report

AMF paper on decentralised finance
EBA publishes Annual Report for 2022

The European Banking Authority (“EBA”) has published its report on ML/TF Risks Associated with EU Payment Institutions (“PIs”).

The report has found that ML/TF risks within the sector may not be assessed and managed effectively by institutions as well as their supervisors.

The report covers:

  • ML/TF risks identified in the payment institutions sector, including risks associated with geography, products and services, delivery channels and emerging risks in the sector;
  • Implementation of AML/CFT measures by payment institutions, including weaknesses and breaches identified;
  • Supervision of the PI sector; and
  • Next steps for the PIs and supervisory authorities.

Firms in the PI sector should read the report to gain further insights into the sector’s ML/TF risks and the EBA’s recommendations.

https://www.eba.europa.eu/eba-finds-money-laundering-and-terrorist-financing-risks-payments-institutions-are-not-managed

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