Risk & Compliance
EBA’s impact on European AML practice
Over the past year, the European Banking Authority (EBA) has reviewed and published a significant number of guidelines relating to anti-money laundering (AML) practices. These guidelines cover, for example, the onboarding of remote customers, the application of risk factors and the role and responsibilities of compliance officers. A recent example is the guidelines that came into force on 3 November 2023. What is the impact of the EBA guidelines on the AML practices of banks and other financial institutions? And how do they relate to national legislation?
