European Banking Authority publishes final revised Guidelines on money laundering and terrorist financing risk factors (EBA/GL/2021/02)
On 1 March 2021, the European Banking Authority (EBA) published its final revised Guidelines on ML/TF risk factors. The revisions take into account changes to the EU Anti Money Laundering and Counter Terrorism Financing (AML/CFT) legal framework and address new risks, including those identified by the EBA’s implementation reviews. In addition to strengthening financial institutions’ risk-based approaches to AML/CFT, the revision supports the development of more effective and consistent supervisory approaches where evidence suggested that divergent approaches continue to exist. The Guidelines are central to the EBA’s work to lead, coordinate, and monitor the fight against money laundering and terrorist financing.
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