EBA publishes Guidelines on Remote Client Onboarding

  • 13 Gennaio 2023
hand touching button with AML anti money laundering sign
EBA publishes Guidelines on Remote Client Onboarding

On 22 November, EBA published its Guidelines on remote customer due diligence requirements related to AML, in the context of the so-called remote onboarding solutions.

The Guidelines implement the request addressed, on September 2020, by the European Commission to EBA related to Digital Finance Strategy for the EU.

They focus on the measures that credit and financial institutions should take to ensure safe and effective remote customer onboarding practices in line with the applicable AML/CFT legislation and the EU data protection framework. They apply to all credit and financial institutions covered by the AMLD.

In this context they:

  • explain the measures that credit and financial institutions should take in order to remotely comply with the due diligence requirements set out in Article 13(1)(a), (b) and (c) of Directive (EU) 2015/849 (Fourth Anti-Money Laundering Directive);
  • establish the measures that credit and financial institutions should take when relying on third parties for the fulfilment of customer due diligence obligations in accordance with Chapter II, Section 4 of Directive (EU) 2015/849;
  • provide guidance on the policies, controls and procedures that credit and financial institutions should implement in relation to the customer due diligence obligation set out in Article 8(3) and (4)(a) of Directive (EU) 2015/849 when due diligence measures are carried out remotely.

The Guidelines are technologically neutral and do not favour the use of one tool over another.