On Sep. 27, FINFSA announced compliance with EBA guidelines.
FINFSA announced it will comply with EBA issued guidelines (EBA/GL/2024/01) amending the EBA's guidelines re risk factors for AML/CFT (EBA/GL/2021/02).
Follows EBA Jan. 2024 report extending AML/CFT guidelines to CASPs, see #174603.
Main Points
EBA extended the scope of the AML/CFT guidelines to include crypto asset service providers (CASP); they define risk factors that CASPs must take into account.
When assessing AML/CFT risks; instructions on how CASPs should reduce these risks.
EBA guidelines give credit and financial institutions instructions on how they should assess the risks related to crypto-assets and customers offering crypto-asset services.
Financial institutions must make every effort to comply with the EBA's instructions.
Effectiveness
The guidelines enter into force on Dec. 30, 2024.
Regulators
FINFSA
Entity Types
B/D; Bank; Ins; Inv Co
Reference
PR, 9/27/2024; EBA/GL/2024/01; EBA/2021/02; AMLD Dir 2015/849
