Sectoral guidelines for money remitters – Measures

Sectoral guidelines for money remitters – Measures

EBA has published the final Guidelines under Articles 17 and 18(4) of Directive (EU) 2015/849 on simplified and enhanced customer due diligence. The Risk Factors guidelines give an overview on the factors credit and financial institutions should consider when assessing the money laundering and terrorist financing risk associated with individual business relationships and occasional transactions.

Sectoral guidelines for money remitters – Measures

139.

Since many money remitters’ business is primarily transaction-based, firms should consider which monitoring systems and controls they put in place to ensure that they detect money-laundering and terrorist financing attempts even where the CDD information they hold on the customer is basic or missing because no business relationship has been established.

140.

Firms should in any case put in place:

• systems to identify linked transactions;
• systems to identify whether transactions from different customers are destined for the same payee;
• systems to permit as far as possible the establishment of the source of funds and the destination of funds;
• systems that allow the full traceability of both transactions and the number of operators included in the payment chain; and
• systems to ensure that throughout the payment chain only those duly authorised to provide money remittance services can intervene.

Sectoral guidelines for money remitters – Measures

141.

Where the risk associated with an occasional transaction or business relationship is increased, firms should apply EDD in line with Title II, including, where appropriate, increased transaction monitoring (e.g. increased frequency or lower thresholds). Conversely, where the risk associated with an occasional transaction or business relationship is low and to the extent permitted by national legislation, firms may be able to apply SDD measures in line with Title II.

Use of agents – Sectoral guidelines for money remitters – Measures

Sectoral guidelines for money remitters – Measures

142.

Money remitters using agents to provide payment services should know who their agents are.30 As part of this, money remitters should establish and maintain appropriate and risk- sensitive policies and procedures to counter the risk that their agents may engage in, or bused e for, ML/TF, including by:

• Identifying the person who owns or controls the agent where the agent is a legal person, to be satisfied that the ML/TF risk to which the money remitter is exposed as a result of its use of the agent is not increased.
• Obtaining evidence, in line with the requirements of Article 19(1)(c) of Directive (EU) 2015/2366, that the directors and other persons responsible for the management of the agent are fit and proper persons, including by considering their honesty, integrity and reputation. Any enquiry the money remitter makes should be proportionate to the nature, complexity and scale of the ML/TF risk inherent in the payment services provided by the agent and could be based on the money remitter’s CDD procedures.
• Taking reasonable measures to satisfy themselves that the agent’s AML/CFT internal controls are appropriate and remain appropriate throughout the agency relationship, for example by monitoring a sample of the agent’s transactions or reviewing the agent’s controls on site. Where an agent’s internal AML/CFT controls differ from the money remitter’s, for example because the agent represents more than one principal or because the agent is itself an obliged entity under applicable AML/CFT legislation, the money remitter should assess and manage the risk that these differences might affect its own, and the agent’s, AML/CFT compliance.

• Providing AML/CFT training to agents to ensure that agents have an adequate understanding of relevant ML/TF risks and the quality of the AML/CFT controls the money remitter expects.

Compliance & Geldwäschebeauftragter – Sectoral guidelines for money remitters – Measures

Unsere Praxisseminare Geldwäsche und Fraud – Basisseminar, Geldwäsche und Fraud – Aufbauseminar, Geldwäsche & Fraud – Update und Geldwäsche & Fraud – Forum verschaffen Ihnen einen umfassenden Überblick zu den aktuellen gesetzlichen Neuerungen und unterstützen Sie dabei, Geldwäsche- und Betrugsstrukturen zu erkennen, zu bewerten und rechtzeitig zu verhindern. In den Compliance-Seminaren wie Compliance, Compliance für Vertriebsbeauftragte, Neue Compliance-Funktion gemäß MaRisk oder auch Compliance im Fokus der Bankenaufsicht werden Ihnen die Ausgestaltung der Schnittstellen zwischen Compliance, Datenschutz, IT, Zentrale Stelle und Interner Revision näher gebracht. Auch die Mindestanforderungen zum Aufbau eines Gesamt-IKS werden hier beispielsweise näher erläutert.

Zudem haben Sie die Chance, nach Teilnahme der Seminare die Zertifizierungslehrgänge zum Compliance Officer, zum AML & Fraud Officer oder zum Geldwäsche-Beauftragter zu absolvieren