European Union: Adopted extension of EBA Guidelines on money laundering and terrorist financing risk factors to crypto-asset service providers

On 16 January 2024, the European Banking Authority (EBA) adopted the extended Guidelines on money laundering (ML) and terrorist financing (TF) risk factors (EBA/GL/2024/01) to include crypto-asset service providers (CASPs), amending the revised ML/TF Risk-Factor Guidelines (EBA/GL/2021/02). The Guidelines highlight ML and TF risk factors and include a non-exhaustive list of possible risk factors to help CAPSs identify the risks. The risk factors contained in the Guidelines may indicate the CAPS’s exposure to such risks due to their customers, products, delivery channels and geographical locations. The Guidelines apply from 30 December 2024 and the competent authorities must report on their compliance with the Guidelines two months after the publication.