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Consultation Paper on draft Joint Guidelines to prevent transfers of funds can be abused for ML and TF (JC-GL-2017-16).pdf
Consultation Paper on draft Joint Guidelines to prevent transfers of funds can be abused for ML and TF (JC-GL-2017-16)
ESAs consult on draft Guidelines to prevent terrorist financing and money laundering in electronic fund transfers
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a public consultation on draft Guidelines that set out what payment service providers should do to detect and prevent the abuse of funds transfers for terrorist financing and money laundering purposes. These Guidelines are part of the ESAs’ wider work on fostering a common approach to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) and promote a common understanding of payment service providers’ obligations in this area. This is essential to ensure the consistent application of AML/CFT law, which not only strengthens the European Union’s AML/CFT regime but is also a prerequisite for the smooth and efficient functioning of payment systems. The consultation runs until 5 June 2017.