On 6 December, the European Banking Authority launched a public consultation on new Guidelines on the effective management of money laundering and terrorist financing risks when providing access to financial services. Through these Guidelines, the EBA aims to ensure that customers, especially the most vulnerable ones, are not denied access to financial services without valid reason.  This consultation runs until 6 February.  There are 2 sets of guidelines – the first set is adding a new section to the EBA’s ML/TF risk factor guidelines, which set out what financial institutions should do to identify and tackle ML/TF risk; the second set tackles the issue of effective management of ML/TF risks by financial institutions when providing access to financial services.



Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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