EBA Publishes Payment Institutions ML/TF Risks Report

15 June 2023

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EBA Publishes Payment Institutions ML/TF Risks Report

The European Banking Authority (EBA) has published its report on ML/TF Risks Associated with EU Payment Institutions (PIs).

The report has found that ML/TF risks within the sector may not be assessed and managed effectively by institutions as well as their supervisors.

The report covers:

ML/TF risks identified in the payment institutions sector, including risks associated with geography, products and services, delivery channels and emerging risks in the sector;
Implementation of AML/CFT measures by payment institutions, including weaknesses and breaches identified;
Supervision of the PI sector; and
Next steps for the PIs and supervisory authorities.

Firms in the PI sector should read the report to gain further insights into the sector’s ML/TF risks and the EBA’s recommendations.

Read the full report

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