On 12 March 2024, the European Commission (Commission) published a letter containing a provisional request for advice from the European Banking Authority (EBA), regarding regulatory technical standards and guidelines under the future anti-money laundering (AML) and counter terrorist financing (CFT) framework. The request for technical advice is provisional, considering the new AML/CFT framework is not yet in force. The regulatory technical standards and guidelines should be adopted by the Commission in accordance with Articles 39 to 41 of the proposed Regulation establishing the dedicated AML/CFT Authority (AMLA) and pursuant to Article 290 of the Treaty on the Functioning of the European Union.

As such, the request for advice concerns the regulatory technical standards that AMLA will have to develop in relation to:

  • The methodology for classifying the risk profile of cross-border credit or financial institutions that may be selected for supervision at Union level.
  • The methodology for risk-based supervision, the information necessary for the performance of customer due diligence.
  • Criteria for determining pecuniary sanctions or administrative measures.
  • Minimum requirements of group wide policies and guidelines on the base amounts of such pecuniary sanctions.

In terms of guidelines, the request for advice relates to Article 39(8) of the Sixth Anti-Money Laundering Directive where AMLA is to issue guidelines on the base amounts for the imposing of pecuniary sanctions relative to turnover, broken down per type of breach and category of obliged entities.

The letter requests that the EBA deliver the technical advice by 31 October 2025.