EBA, EIOPA and ESMA guidelines on risk factors that firms should consider when implementing a risk-based approach to AML/CFT compliance
European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority guidelines on implementing a risk-based approach to adherence to the EU directive on the Financial Action Task Force (FATF) international standard. Provides guidance on risk factors firms should consider when assessing money laundering and terrorist financing risk associated with a business relationship or occasional transaction, and how firms can adjust the extent of their customer due diligence measures in a manner commensurate to money laundering and terrorist financing risks. Provides guidance to supervisory authorities in assessing the adequacy of firms’ application of simplified and enhanced customer due diligence measures.
Publisher:
Regional Standard-Setting Bodies
Release date:
Nov 2016
Type:
Guideline
Peer:
Guidelines on the Money Laundering and Terrorist Financing Risk
Topics:
Money laundering and terrorist financing
Sectors:
Banking, Insurance, Pensions, Securities
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