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

  • 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: Under development

  • Guidelines on risk factors and simplified and enhanced customer due diligence

    These Guidelines provide credit and financial institutions with the tools they need to make informed, risk-based and proportionate decisions on the effective management of individual business relationships and occasional transactions for anti-money laundering and countering the financing of terrorism purposes. They provide guidance on the factors firms should consider when assessing the money laundering and terrorist financing risk associated with a business relationship or occasional transaction and set out how credit and financial institutions can adjust the extent of their customer due diligence measures in a way that is commensurate to the money laundering and terrorist financing risk they have identified. Competent authorities should use these Guidelines when assessing whether the money laundering and terrorist financing risk assessment and management systems and controls of EU credit and financial institutions are adequate.

    Status: Under development

Opinions, Reports and other Publications

 

Opinions