Anti-Money Laundering and Countering the Financing of Terrorism


The EBA is required to ensure the integrity, transparency and orderly functioning of financial markets, strengthen supervisory cooperation and prevent regulatory arbitrage, among others. As part of this, the EBA takes steps to ensure that competent authorities and credit and financial institutions within its scope apply the provisions of European Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) legislation effectively and consistently.

The EBA discharges its functions in this field by:

•    Facilitating and fostering the co-operation of competent AML/CFT authorities across the EU;

•    Working closely with ESMA and EIOPA, through the Joint Committee, to promote the development of a common understanding, by competent authorities and credit and financial institutions, of what the risk-based approach to AML/CFT entails and how it should be applied;

•    Working with ESMA and EIOPA, through the Joint Committee, to deliver its mandates under Directive (EU) 2015/849 and Regulation (EU) 2015/847; and

•    Engaging in dialogue with its stakeholders and international standard-setters.

Technical Standards, Guidelines & Recommendations

  • RTS on the implementation of group wide AML/CFT policies in third countries

    These RTS will specify how credit and financial institutions should manage money laundering and terrorist financing (ML/TF) risks where a third country’s law prevents the implementation in their branches or majority-owned subsidiaries of group-wide policies and procedures on anti-money laundering and countering the financing of terrorism (AML/CFT). They are part of the ESAs' wider work on fostering a common approach to AML/CFT and will contribute to creating a level playing field across the Union’s financial sector.

    Status: Under development

  • Guidelines to prevent transfers of funds can be abused for ML and TF

    These Guidelines are part of the ESAs’ wider work on fostering a common approach to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) and promote a common understanding of payment service providers’ obligations in this area.

    Status: Under development

  • RTS on CCP to strengthen fight against financial crime

    These regulatory technical standards are designed to help Member States determine when payment service providers and electronic money issuers should appoint a Central Contact Point (CCP) to support the fight against money laundering and terrorist financing. These draft RTS are part of the Joint Committee's work to establish consistent and effective risk-based supervisory practices across the EU.

    Status: Under development

  • Guidelines on risk based supervision

    These Guidelines specify the characteristics of a risk-based approach to anti-money laundering and countering the financing of terrorism supervision and set out what competent authorities should do to ensure that their allocation of supervisory resources is commensurate to the level of money laundering and terrorist financing risk associated with credit and financial institutions in their sector. They build on the ESAs' 'Preliminary report on anti-money laundering and counter financing of terrorism Risk Based Supervision', which were published in October 2013.

    Status: Final and translated into the EU official languages

Opinions, Reports and other Publications

 

Opinions