tl;dr
The European Banking Authority (EBA) has initiated a public consultation on new anti-money laundering (AML) and countering the financing of terrorism (CFT) rules. The consultation seeks feedback on four draft Regulatory Technical Standards (RTS) as part of the EBA's response to a 'call for advice' f...
EU Banking Regulator Seeks Public Feedback on AML, CFT Rules EU Banking Regulator Seeks Public Feedback on AML, CFT Rules
European Banking Authority seeks public feedback on new anti-money laundering and countering the financing of terrorism rules through a public consultation on four draft Regulatory Technical Standards (RTS) for the EU's response to AML/CFT regulations.
The European Banking Authority (EBA) has initiated a public consultation on new anti-money laundering (AML) and countering the financing of terrorism (CFT) rules. The consultation seeks feedback on four draft Regulatory Technical Standards (RTS) as part of the EBA's response to a 'call for advice' from the European Commission. The consultation covers areas such as risk assessment, due diligence requirements, and pecuniary sanctions.
Stakeholders are invited to submit comments by June 6, 2025, with the EBA set to submit its response to the European Commission on October 31, 2025.
The European Banking Authority (EBA), an independent regulatory body focusing on financial stability across the European Union’s banking sector, has launched a public consultation on new anti-money laundering (AML) and countering the financing of terrorism (CFT) rules.
The consultation, announced on March 6, seeks feedback on four draft Regulatory Technical Standards (RTS) that will be part of the EBA’s response to a ‘call for advice’ it received from the EU’s executive arm, the European Commission, last Spring.
The EU adopted its package of new AML/CFT rules on May 30, 2024, including extending AML rules to new “obliged entities,” tightening due diligence requirements, setting a €10,000 limit to cash payments, and establishing a new European Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA).
On March 12, the European Commission asked the EBA to advise on four specific mandates of the new AMLA. After providing its advice, the EBA is now seeking feedback on its proposed RTS.
The four mandates in question cover how risk is assessed for the purpose of selection for direct supervision, the methodology for assessing the risk profile of obliged entities, customer due diligence (CDD) requirements, and pecuniary sanctions (monetary penalties).
The consultation called for “interested stakeholders” to submit comments to the EBA by June 6, 2025. All contributions received will be published at the end of the consultation period, and the EBA will submit its response to the European Commission on October 31, 2025.