11. Credit and financial institutions should put in place risk-sensitive policies and procedures to …

Credit and financial institutions should put in place risk-sensitive policies and procedures to ensure that their approach to applying customer due diligence (CDD) measures does not result in them unduly denying customers legitimate access to financial services. To comply with their obligations under Article 14(4) of Directive (EU) 2015/849, credit and financial institutions should set out in their policies and procedures the criteria they will use to determine on which grounds they will decide that a business relationship may be rejected or terminated or that a transaction may be denied. As part of this, they should set out in their policies, procedures and controls all options for mitigating higher ML/TF risks that they will consider applying before deciding to reject a customer on ML/TF risk grounds. These options should at least include ad-justing the level and intensity of monitoring and, where this is permitted under national law, the application of targeted restrictions to products or services. Institut ions’ policies and proce-dures should set out clearly in which situations the application of these mitigating measures may be appropriate.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA -

  EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

  DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.