The Financial Intelligence Analysis Unit (FIAU) would like to inform subject persons that the EBA has issued guidelines on the application of AML/CFT rules in the context of remote customer onboarding. The guidelines were published following a public consultation which took place between the 10th of December 2021 and the 10th of March 2022.
This publication provides further clarity on the application of the remote customer onboarding Customer Due Diligence (CDD) processes as generally outlined in Directive (EU) 2015/849 (Fifth AML Directive).
During these past years, the demand for remote onboarding of customers has increased considerably, especially due to the COVID-19 pandemic. In view of this, and to fulfil the subject persons` AML/CFT obligations, consistent and efficient methods and processes for remote onboarding of customers became necessary.
The guidelines establish:
- The forms of new technologies that are appropriate, adequate, and reliable when financial institutions accept customers remotely, whilst respecting the principle of technological neutrality.
- The parameters that need to be followed through by financial institutions when adopting new technologies for remote customer onboarding. Such as: internal policies and procedures, governance, pre-implementation assessment and ongoing monitoring.
- The approved remote customer onboarding digital documentation.
- The circumstances when reliance on third parties and outsourcing can take place.
These Guidelines will enter into force 6 months after the publication in all EU official languages.
Subject persons can access the document by clicking on the link on the FIAU website or the link on the EBA website.
