In November, the EBA published the final Guidelines on remote customer onboarding. The Guidelines  establish common EU standards on the development and implementation of sound, risk-sensitive initial customer due diligence policies and processes in the remote customer onboarding context. They set out the steps credit and financial institutions should take to ensure safe and effective remote customer onboarding practices in line with applicable AML/CFT legislation and the EU’s data protection framework.

The Guidelines apply to all credit and financial institutions that are within the scope of the Anti-money Laundering Directive (AMLD).