In March, following an extensive public consultation, we published our final Risk Factors Guidelines. These Guidelines were first issued in 2017 and have since become central to financial institutions’ risk-based approaches to AML/CFT. We updated them to reflect changes in the EU legal framework, to address new ML/TF risks that have emerged since the previous version, and to clarify regulatory expectations where our findings from, for example, the Opinion on ML/TF risks and our implementation reviews suggested that this was necessary to achieve more robust and consistent outcomes across the EU.