Amendment to European Banking Authority’s ML/TF Risk Factors Guideline, applicable as of 30 December 2024

Supervision release 27 September 2024 - 59/2024

Amendment to European Banking Authority's ML/TF Risk Factors Guideline, applicable as of 30 December 2024

On 16 January 2024, the European Banking Authority (EBA) issued Guidelines (EBA/GL/2024/01) amending the ML/TF Risk Factors Guidelines (EBA/GL/2021/02).

The Financial Supervisory Authority (FIN-FSA) has announced it will comply with the Guidelines as of 30 December 2024.

In accordance with Article 16(3) of the EBA Regulation¹, financial institutions shall make every effort to comply with EBA guidelines.

Subject matter

The EBA has expanded the scope of application of its guidance on Money Laundering and Terrorist Financing (ML/TF) risk factors to Crypto-Asset Service Providers (CASP).

The Guidelines specify risk factors that must be considered by CASPs when assessing money laundering and terrorist financing risks and provide instructions for CASPs on how to mitigate these risks.

In addition, the Guidelines provide instructions for credit and financial institutions on how they should assess risks related to crypto-assets and customers providing crypto-asset services.

Entry into force

The Guidelines apply as of 30 December 2024.

For further information, please contact

Jonna Ekström, Chief Legal Advisor, telephone +358 9 183 5531 or jonna.ekstrom(at)fiva.fi

Appendices

• EBA Guidelines EBA/GL/2024/01 amending the ML/TF Risk Factors Guidelines EBA/2021/02
• FIN-FSA website: Guidelines of the European Supervisory Authorities
  
  

¹The EBA Regulation (EU) No 1093/2010

Keywords

EBAmoney laundering and terrorist financingguidelinecrypto asset service

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