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The EBA receives new mandates under the revised Regulation on information accompanying transfers of funds (TFR)

On 29 June 2022 the co-legislators reached a provisional agreement on the revised TFR. According to this agreement, the EBA will be assigned 10 legislative mandates on different aspects of the TFR. The new mandates include:

  • guidance on the steps crypto assets service providers (CASPs) need to take to comply with the TFR,
  • the AML/CFT supervision of CASPs,
  • the systems and controls payment service providers and CASPs have to put in place to comply with restrictive measures (financial sanctions) regimes.

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date:  16/12/2022

The EBA has started to work on these mandates. It also issued a call for input to identify practical issues that the industry experienced when complying with the  2017 Joint Guidelines to prevent the abuse of fund transfers for ML/Tf purposes. The call for input closed on 15 November 2022.