Thu. Sep 19th, 2019

Planet Compliance

Innovation & Regulation in Finance

European Regulators publish AML/CFT guidelines

2 min read

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today its final Guidelines on anti-money laundering and countering the financing of terrorism (AML/CFT).

The Guidelines promote a common understanding of the risk-based approach to AML/CFT and set out how it should be applied. . These Guidelines are part of the ESAs’ wider work on fostering a consistent and effective approach to AML/CFT by both, credit and financial institutions, and AML/CFT supervisors. The Guidelines provide credit and financial institutions with the tools they need to make informed, risk-based decisions on the effective management of individual business relationships and occasional transactions for AML/CFT purposes.

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