L’ALBC adopte des normes techniques de réglementation clés (uniquement en anglais)

The CSSF would like to draw professionals’ attention to the adoption by the European Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) of a set of 3 draft Regulatory Technical Standards (RTS). Those draft RTS each cover important aspects of AML/CFT requirements and complement Regulation (EU) 2024/1624 of the European Parliament and of the Council of 31 May 2024 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AMLR).

The different draft RTS provide important details on

1) the definition of business relationships and occasional transactions,

2) customer due diligence measures and

3) the application of group-wide arrangements.

AMLA has submitted the final reports regarding the draft RTS to the European Commission (EC) for formal adoption and publication. However, please note that the EC can still amend the draft RTSs in accordance with the procedure provided for in Article 49 of Regulation (EU) 2024/1620 of the European Parliament and of the Council of 31 May 2024 establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism.

Notwithstanding this pending process at EC level, we invite the professionals to familiarize themselves with the details of the draft RTS as of now. We highly recommend the professionals to finalise their gap analysis based on the review of their internal policies, procedures and controls and take internal preparatory steps, including for example at Compliance and IT level, in order to be able to comply with these requirements once they become applicable. In this context, we would like to draw attention to the fact that AMLA has proposed in each of the 3 draft RTS, the principle of a six-month transitional period following the entry into force of the final RTS once published in the Official Journal of the EU.

Please find hereafter the link to AMLA’s press release, as well as to the final reports of the draft RTS and also to relevant explanatory material provided by AMLA: https://www.amla.europa.eu/press-release-amla-finalises-key-standards-private-sector_en