Risk assessment

On June 26, 2017, the Commission published its first Supranational Risk Assessment Report in accordance with the requirements of 4 of the Anti-Money Laundering Directive. The Commission assessed the vulnerability of financial products and services to the risks of money laundering and terrorist financing. This risk analysis is conceived as a key tool for identifying, analyzing and managing money laundering and terrorist financing risks in the EU. It aims to provide a comprehensive mapping of risks in all relevant areas, as well as recommendations to Member States, European supervisory authorities and committed organizations to mitigate these risks. This risk analysis supports Member States and stakeholders in conducting appropriate risk assessments. On July 24, 2019, the Commission published its second supranational risk assessment report.

Отчет SNRA 2017

SNRA Report 2019

EU list of high risk third countries

Pursuant to Article 9 of Directive (EU) 2015/849, the Commission is mandated to identify high-risk third countries that have strategic deficiencies in their anti-money laundering and terrorist financing regime. The aim is to protect the integrity of the EU financial system.

One of the pillars of European Union anti-money laundering and terrorist financing legislation is Directive (EU) 2015/849. The Directive requires banks and other gatekeepers to exercise increased vigilance in business dealings and transactions involving high-risk third countries. The types of heightened vigilance requirements are basically additional checks and controls that are defined in Article 18a of the Directive.

Further information:

EU policy on high risk third countries

Third high-risk country Effective date
Afghanistan 20 September 2016
The Bahamas 1 October 2020
Barbados 1 October 2020
Botswana 1 October 2020
Cambodia 1 October 2020
Democratic People's Republic of Korea (DPRK) 20 September 2016
Ghana 1 October 2020
Iran 20 September 2016
Iraq 20 September 2016
Jamaica 1 October 2020
Mauritius 1 October 2020
Mongolia 1 October 2020
Myanmar 1 October 2020
Nicaragua 1 October 2020
Pakistan 2 October 2018
Panama 1 October 2020
Syria 20 September 2016
Trinidad and Tobago 14 February 2018
Uganda 20 September 2016
Vanuatu 20 September 2016
Yemen 20 September 2016
Zimbabwe 1 October 2020

Enhancing Law Enforcement Access to Financial Information

Terrorists and criminals have demonstrated their ability to quickly transfer funds between different banks, often in different countries, but the lack of timely access to financial information means that many investigations are deadlocked. Consequently, there is a clear need for increased cooperation between the authorities responsible for combating terrorism and serious crime when financial information is a key part of the investigation.

Directive (EU) 2019/1153 expands the use of financial information by providing law enforcement agencies with direct access to the identity of bank account holders held in national centralized registries. In addition, it gives law enforcement agencies the ability to access certain information from national financial intelligence units (FIUs), including data on financial transactions, and improves the exchange of information between FIUs, as well as their access to law enforcement information necessary to carry out their tasks. These measures will speed up the investigation of criminal offenses and enable the authorities to more effectively combat cross-border crime.

Proposal - Establishing rules to facilitate the use of financial and other information to prevent, detect, investigate or prosecute certain criminal offenses and overturn Council Decision 2000/642 / JHA

Impact Assessment - Establishing rules to facilitate the use of financial and other information to prevent, detect, investigate or prosecute certain criminal offenses and overturn Council Decision 2000/642 / JHA

Impact Assessment Summary - laying down rules to facilitate the use of financial and other information to prevent, detect, investigate or prosecute certain criminal offenses and overturn Council Decision 2000/642 / JHA

Supervision and regulation technical standards

The Commission services work closely with European supervisory authorities in the implementation of AML / CFT rules. The Joint Committee of European Supervisors on AML / CFT issues guidelines and opinions to help national competent authorities understand regulatory expectations.

Anti-money laundering goals and objectives

The Joint Committee works in the areas related to combating money laundering and terrorist financing (hereinafter - AML). In particular, these are:

  • Acts as a forum for the exchange of experience and supervision practices between supervisors regarding AML;
  • Provides regulatory and supervisory input to supervisory measures against money laundering in accordance with the Anti-Money Laundering Directive (Directive (EU) 2015/849);
  • Provides regulatory and supervisory input to supervisory measures arising from other regulations affecting money laundering, such as the relevant parts of the Payment Services Directive (Directive (EU) 2015/2366), the Electronic Money Directive (Directive 2009/110 / EC) and the Bank Transfer Regulation (Regulation (EU) 2015/847);
  • Provides expertise for material that the Committee on the Prevention of Money Laundering and the Financing of Terrorism (CPMLTF) or other bodies will request from the EBA, ESMA and EIOPA through their Joint Committee; and
  • Performs any other specific AML-related tasks set and agreed by the ESAs governing bodies, as appropriate.

The Joint Committee assists ESAs to meet these challenges:

  • Prepare joint positions (Article 56 of the ESA Regulation) on anti-money laundering issues;
  • Prepare general instruments (Article 56 of the ESA Regulation), e.g. draft regulatory technical standards as defined in Articles 45 (6) and (10) of the Anti-Money Laundering Directive (Directive 2015/849 / EC), as well as guidelines principles and guidelines for combating money laundering;
  • Prepare opinions (based on Article 34 of the ESA Regulation) on anti-money laundering, either on its own initiative or at the request ("Consultation") of the European Parliament, Council or Commission; and make decisions (Article 20 of the ESA Regulation) in the field of combating money laundering.

As part of its legal obligations under the 4th Anti-Money Laundering Directive, the Commission has adopted Delegated Rules for the following regulatory technical standards that have been developed by the European Supervisory Authorities (ESA).

The European Commission issued an opinion on 8 November 2018 in exercise of its powers under the EBA Regulation, requiring the Maltese supervisory authority to combat money laundering (Financial Intelligence Analysis Group) to continue to take additional measures to fully comply with its obligations under the fourth -Directive on money laundering.

Communication on strengthening the Union's framework for prudential supervision and supervision of money laundering

Adoption of targeted amendments to the three Regulations on the Establishment of Supervisory Bodies.

The European Commission adopted on 24 July 2019. a report that evaluates recent alleged money laundering cases involving EU lending institutions.

European cooperation

An The Panel of Experts on Anti-Money Laundering and the Financing of Terrorism meets regularly to exchange views and assist the Commission in defining policy and drafting new legislation.

International context​

  • FATF
    The Commission is a member of the Financial Action Task Force on Money Laundering (FATF), the main international body dedicated to combating money laundering, terrorist financing and other threats to the integrity of the international financial system..
  • MONEYVAL
    The Commission is an observer at Moneyval, the Council of Europe body that evaluates compliance with AML / CFT standards.
  • EGMONT
    The Commission is an observer to the Egmont Group of Financial Intelligence Units, which provides an international platform for the secure exchange of experience and financial intelligence between financial intelligence units to combat money laundering and terrorist financing.