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EBA Issues New Guidelines on Customer Access to Financial Services

31 March 2023
EU Flag on corporate building

EBA Issues New Guidelines on Customer Access to Financial Services

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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