The EBA consultation on the AML : ETTPA’s and AFEPAME’s response

The EBA published a consultation on a project of guidelines to implement measures to be taken by financial institutions during their anti-money laundering checks.

This consultation closed on the 6th of July.

Bridge is regulated as a payment institution, since the enactment of the PSD2.

The EBA considers that all financial institutions (banking institutions, payment institutions…) have to participate in the fight against terrorism.

Nevertheless, the EBA recognizes that the aggregation and initiation of payments’ activity is not considered risky. Thus, the authority is offering specific measures in the guideline 18.

Bridge considers that the controls it carries out have to be complementary and non-redundant with those made by the banks, to ensure an optimal protection mechanism. The constraints of these mechanisms can only be justified if they have added value in terms of protection in the fight against the terrorist financing.

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