Updates to the Guidance Note on AML/CFT obligations in relation to payment accounts with basic features

25th September 2024

The FIAU would like to inform credit institutions that an updated version of the Guidance Note on AML/CFT obligations in relation to payment accounts with basic features has been issued today. The updates mainly consist of:

  • References to updated sample documents that have been issued by the relevant authorities since the initial publication of the document in October 2018.
  • The introduction of red flags that credit institutions can look at when carrying out their ongoing monitoring obligations.
  • References to the EBA Guidelines on policies and controls for the effective management of ML/TF risks when providing access to financial services and to other relevant FIAU Guidance Notes.
  • Other linguistic amendments.

Credit institutions should note that with effect from today, this updated Guidance Note repeals and replaces the previous version issued on 15th October 2018.

Credit institutions are encouraged to consult the updated Guidance Note, which can be found on the FIAU’s website by accessing the following link and clicking the tab entitled ‘Financial Sector’.

AML/CFT
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