The EBA consults on new rules related to the anti- money laundering and countering the financing of terrorism package

Draft RTS on sanctions  

This RTS is about the indicators and criteria supervisors need to take into account when setting the level of pecuniary sanctions or taking administrative measures for AML/CFT breaches. They also include a methodology on periodic penalty payments. The objective is to ensure that anti-money laundering and countering the financing of terrorism (AML/CFT) breaches are assessed in the same way by all supervisors across the EU and that the enforcement action is proportionate, dissuasive and effective. 

Draft RTS on Customer Due Diligence (CDD)  

The RTS on CDD is about the information obliged entities need to collect to perform standard, enhanced or simplified CDD. They also help supervisors determine the extent to which e-money issuers can benefit from CDD exemptions and specify which attributes electronic identification means must feature so that they can be used for CDD purposes. The aim is to support the adoption of robust CDD processes that are proportionate and effective, and that are consistent across all Member States.   

Draft RTS on ML/TF risks  

This RTS defines the methodology supervisors will use to assess and classify the inherent and residual ML/TF risk profiles of obliged entities. They also include the data points obliged entities may have to provide to make that assessment possible.  These data points are specific to different sectors, which limits the amount of data smaller and less complex institutions will have to provide. Cross-border institutions will also benefit as all supervisors will request the same data. Overall, the aim is to put in place a common risk-assessment process that leads to reliable and comparable outcomes, and that keeps the reporting burden to a necessary minimum. 

Draft RTS Article on the selection of directly supervised firms  

These RTS contain the methodology AMLA will use to determine which institutions it will directly supervise. Under this proposal, AMLA would first determine which institutions are eligible in principle, based on the nature and scale of their cross-border activity. It would then use the ML/TF risk assessments under Article 40 of the AMLD to select those institutions that would benefit most from central, EU-level, AML/CFT supervision.