Input on EBA’s AML/CTF Draft Guidelines

The EBA issued a public consultation on revised money laundering and terrorist financing (ML/TF) risk factors Guidelines ​as part of a broader communication on AML/CFT issues. This update takes into account changes to the EU Anti Money Laundering and Counter Terrorism Financing (AML/CFT) legal framework and new ML/TF risks, including those identified by the EBA’s implementation reviews. These Guidelines are central to the EBA’s work to lead, coordinate and monitor the fight against money laundering and terrorist financing, explained in the accompanying factsheet.

You can find EFA’s input to EBA’s consultation here.

More Positions

In the wake of the December 2023 political agreement on Artificial Intelligence regulations, financial industry representatives stress the need to safeguard ongoing credit scoring operations from potential disruptions caused by pending technical details around the agreed definition of “artificial intelligence systems”. Credit scoring is a vital element of the financial sector, providing a way to evaluate an individual’s creditworthiness based on their financial history and behaviour. This evaluation assists lenders in making well-informed decisions about extending credit or loans.
This document presents the European Fintech Association (EFA) and European Third-Party Providers Association (ETPPA) comments regarding the inclusion of PISPs on the AMLR scope.
The European Fintech Association welcomes recent initiatives of the EU to encourage sustainability in financial services. We believe fintech, especially the cryptoasset sector, can play an important role in driving sustainable innovation. With the right approach, the EU can empower the cryptoasset industry to drive positive change, foster sustainable practices, and contribute significantly to the green transition.