Wolfsberg Group shares its Comment Letter on EU AML/CFT Legislative Package

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The Wolfsberg Group has shared its Comment Letter on the EU AML/CFT Legislative Package.

The letter aims to provide suggestions and observations on a number of key issues:

  1. Harmonisation of supervisory practices and standards
  2. Enhanced information-sharing in line with GDPR principles
  3. Facilitating an effective risk-based approach

The letter emphasizes that FIs can detect, prevent, and report money laundering and terrorist financing most effectively within a consistent AML/CFT framework consisting of a baseline of risk-focused rules and a risk-based approach (RBA).


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