The European Banking Authority launched a public consultation on amendments to its Guidelines on risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) supervision.
The proposed changes extend the scope of these Guidelines to AML/CFT supervisors of cryptoasset service providers (CASPs).
The amendments include guidance on the sources of information competent authorities should consider when assessing money laundering/terrorist financing risks associated with CASPs.
They also highlight the importance of a consistent approach to setting supervisory expectations where multiple competent authorities are responsible for the supervision of the same institutions and stress the importance of training to ensure that staff from competent authorities have the technical skills and expertise necessary for the execution of their functions.
Specific AML/CFT guidance for CASPs will be delivered through forthcoming amendments to the EBA’s Risk Factors Guidelines, the amendments to the Guidelines to prevent the abuse of fund transfers for money laundering/terrorist financing purposes, and new Guidelines on policies and procedures for compliance with restrictive measures.
Deadline for comments is 29 June 2023.