EBA - Consultation on new rules related to the anti- money laundering and countering the financing of terrorism package
EBA launched a public consultation on four draft Regulatory Technical Standards (RTS) that will be part of the EBA’s response to the European Commission’s Call for Advice. These technical standards will be central to the EU’s new AML/CFT regime and will shape how institutions and supervisors will comply with their AML/CFT obligations under the new AML/CFT package. The consultation runs until 6 June 2025.
The proposed RTSs focus on the following aspects for which the EBA is providing its advice: (i) the way the new EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) will decide which institutions will be subject to the direct supervision; (ii) the determination of the ML/TF risk associated with each institution; (iii) the extent and quality of information institutions will have to obtain as part of the customer due diligence process under the new AML/CFT regime; and (iv) on indicators and criteria to be taken into account when setting the level of pecuniary sanctions or taking administrative measures including developing a methodology on how to impose periodic penalty payment
