AML/CFT / PRACTICAL GUIDE
Understanding Anti-Money Laundering and Counter-Terrorist Financing
AML/CFT frameworks are designed to prevent financial systems and services from being used for money laundering, terrorist financing and related financial crime.
Explore this guide
For crypto-asset businesses, controls can include:
- Customer identification
- Customer Due Diligence
- Enhanced Due Diligence
- Beneficial ownership
- Risk assessment
- Sanctions screening
- Transaction monitoring
- Suspicious-activity escalation
- Record keeping
- Compliance governance
01 / THE DETAILS
The Risk-Based Approach
An effective AML/CFT framework should identify and manage risks rather than rely solely on standardised controls.
Risk may arise from:
02 / THE DETAILS
AMLA
AMLA is responsible for strengthening EU-level AML/CFT supervision and cooperation. It is developing regulatory instruments and supporting convergence across Member States.