AMLA - Consultations on key mandates for the private sector and harmonized supervision
AMLA has launched public consultations on three draft Regulatory Technical Standards (RTS).
The draft RTS on Business Relationships establish criteria for identifying business relationships, occasional transactions and linked transactions, which form the structural basis upon which customer due diligence obligations apply.
The draft RTS on Customer Due Diligence build on the AML Regulation framework and set out how obliged entities verify customer identity and conduct ongoing monitoring in a risk-sensitive and proportionate way.
The draft RTS on Enforcement establish a common supervisory approach to assessing, categorising and responding to breaches of institutions’ AML/CFT obligations.
