The European Banking Authority (EBA) has released updated guidelines on customer due diligence and the factors credit and financial institutions should consider when assessing money laundering and terrorist financing (ML/TF) risks associated with individual business relationships and occasional transactions.

The guidelines aim to support firms’ anti-money laundering and combating the financing of terrorism (AML/CFT) compliance efforts and enhance the ability of the EU’s financial sector to effectively deter and detect ML/TF.

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