28 October 2015
Press release

EBA, EIOPA and ESMA consult on anti-money laundering and countering the financing of terrorism

Press release 15/44

On 21 October 2015, the Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA, the “ESAs”) launched a public consultation on two anti-money laundering and countering the financing of terrorism (AML/CFT) Guidelines:

1) Guidelines on risk factors and simplified and enhanced due diligence

2) Guidelines on risk based supervision.

These Guidelines are based on the mandates provided for in Articles 17, 18(4) and 48(10) of the EU Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering and terrorist financing. They shall promote a common understanding of the risk-based approach to AML/CFT and set out how it should be applied, on the one hand, by credit and financial institutions and, on the other hand, by competent authorities across the EU.

The consultation runs until 22 January 2016. Please be advised that the ESA’s will hold a public hearing at the EBA premises in London on 15 December 2015.

The documents can be accessed by the following link:

http://www.eba.europa.eu/-/eba-eiopa-and-esma-consult-on-anti-money-laundering-andcountering-the-financing-of-terrorism