In March 2023, we updated the Guidelines on ML/TF risks factors and included guidance that sets out what financial institutions should do to identify and assess ML/TF risk associated with Not-for-Profit organisations (NPOs). This is to support financial institutions in managing ML/TF risks associated with NPOs effectively, instead of denying them access to financial services. The Guidelines are applicable across the EU since October 2023.

In July 2023, to complement these Guidelines and to engage further with NPOs, we published a joint factsheet together with the European Commission to clarify the information NPOs might have to provide to financial institutions to open an account or to carry out a specific transaction. The factsheet also explains the reasons why financial institutions may require this information.