Financial Crime World

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Money Laundering and Terrorist Financing: Regulatory Guidelines and Recommendations

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This document compiles various guidelines, opinions, reports, and recommendations from regulatory bodies related to money laundering (ML) and terrorist financing (TF). The sources are primarily from the European Banking Authority (EBA), the Financial Action Task Force (FATF), and the Basel Committee.

European Regulatory Bodies

European Banking Authority (EBA)

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  • Guidelines on policies and controls for ML/TF risks (March 2023)
  • Guidelines on Remote Customer Onboarding Solutions (November 2022)
  • Opinion on de-risking and its impact on access to financial services (January 2022)
  • Risk Factors Guidelines (consolidated version, March 2021)

European Insurance and Occupational Pensions Authority

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  • Opinion on supervisory convergence in light of the United Kingdom withdrawing from the European Union (July 2017)

International Regulatory Bodies

Financial Action Task Force (FATF)

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  • Recommendations: International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation (February 2023)
  • Guidelines:
    • Beneficial Ownership for Legal Persons (March 2023)
    • Risk-Based Supervision (March 2021)
    • Digital Identity (March 2020)

Basel Committee

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  • Guidelines on sound management of risks related to money laundering and financing of terrorism (July 2020)
  • Guidance on the application of Core Principles for Effective Banking Supervision to financial inclusion (September 2016)

Framework for Mitigating ML/TF Risks

These guidelines and recommendations provide a framework for financial institutions, regulatory bodies, and other stakeholders to mitigate ML/TF risks. They cover topics such as:

  • Customer due diligence
  • Risk-based supervision
  • Beneficial ownership
  • Digital identity

Note: This is not an exhaustive list, and there may be other relevant guidelines and recommendations not included in this compilation.