TechFlow news: The European Banking Authority (EBA) has extended its guidelines on anti-money laundering and counter-terrorist financing risk factors to cover crypto-asset service providers (CASPs). The new guidelines highlight the money laundering/terrorist financing risk factors and mitigation measures that CASPs must consider, marking a significant step forward for the EU in combating financial crime.
The updated guidelines also include guidance for other credit and financial institutions whose clients are CASPs or which otherwise interact with crypto-assets. The risk increases when credit and financial institutions establish business relationships with crypto-asset service providers not authorized under Regulation (EU) 2023/1114.
The guidelines will help crypto-asset service providers identify money laundering/terrorist financing risks by providing a comprehensive list of factors that may indicate higher or lower exposure to such risks based on their customers, products, delivery channels, and geographic locations.
