The European Banking Authority [EBA] has released revised guidelines on ML/TF risk factors.

The revised guidelines:

  • Take into account changes made to the EU AML/CFT legal framework and new ML/TF risks identified;
  • Provide new guidance on ML/TF risk assessments, CDD for beneficial owners, and compliance with EDD obligations relating to high-risk third countries;
  • Incorporate new sectoral guidance on crowdfunding platforms, corporate finance, payment initiation services providers (PISPs), and account information service providers (AISPs), and for firms providing currency exchange office activities.

Firms should take note of the updated guidelines relevant to their sector, and ensure that their policies and procedures account for applicable ML/TF risks.

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