In December, we published our revised guidelines on the risk-based supervision of credit and financial institutions’ compliance with AML/CFT obligations. Building on the EBA’s existing 4-step approach to risk-based AML/CFT supervision, the revised guidelines set out the steps supervisors should take to ensure adequate AML/CFT oversight of their sector and support the adoption, by credit and financial institutions, of effective ML/TF risk management policies and procedures.  They also provide additional guidance on ML/TF risk assessments, including sectoral ML/TF risk assessment. Finally, they help supervisors choose the most effective tools to meet their supervisory objectives, including in situations when they have identified breaches and weaknesses in institutions’ systems and controls framework and emphasise the importance of cooperation between AML/CFT supervisors and other stakeholders, including prudential supervisors, FIUs and tax authorities.