EBA consults on changes to its risk-based AML/CFT supervision Guidelines

In March, we launched a public consultation on changes to our Risk-based Supervision Guidelines. The Guidelines set out what supervisors should do to ensure institutions’ compliance with their AML/CFT obligations. The changes address key obstacles to effective AML/CFT supervision that we identified since the Guidelines were first issued, including for example through our implementation reviews and Breach of Union Law work. Specifically, the revised version contains greater detail on risk assessments, the translation of risk assessments into a supervisory strategy and inspection plan, and the use of different tools to meet supervisory objectives.

The consultation is open until 17 June 2021.