In May, the EBA initiated a public consultation on amendments to the Guidelines on MLK/TF risk factors. The proposed amendments extend the scope of the Guidelines to include crypto-asset service providers (CASPs) and highlight the ML/TF risks these providers should considered when carrying out risk assessments of their business or customers. The proposed amendments also include the risks that other credit and financial institutions should  consider when engaging in a business relationship with a CASP or when they are otherwise exposed to crypto assets.

The proposed amendments were necessary to fulfil  the mandates given to the EBA under the recast Transfer of Funds Regulation. The deadline for submission of comments in response to the consultation is 31 August 2023.