European Banking Authority to publish updates to Risk Factor Guidelines that accompany the 4th and 5th EU AML directives

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The European Banking Authority (EBA) will shortly publish updates to Risk Factor Guidelines that accompany the Fourth and Fifth EU AML directives. The updates mainly cover business-wide and individual ML/TF risk assessments; customer due diligence measures including on the beneficial owner; terrorist financing risk factors; and new guidance on emerging risks, such as the use of innovative solutions for CDD purposes. FIs with operations in the EU should study these guidelines carefully, as they may drive the need to make enhancements to the FI’s Financial Crime Control Frameworks.

https://www.eba.europa.eu/sites/default/documents/files/document_library/Publications/Guidelines/2021/963637/Final%20Report%20on%20Guidelines%20on%20revised%20ML%20TF%20Risk%20Factors.pdf

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