18. Credit and financial institutions should set out in their policies and procedures how they …

Credit and financial institutions should set out in their policies and procedures how they adjust the level and intensity of monitoring in a way that is commensurate with the ML/TF risk asso-ciated with the customer and in line with the customer’s r isk profile, as set out in the EBA ’s risk factors guidelines and in particular guidelines 4.69 to 4.75. To effectively manage ML/TF risk associated with a customer, monitoring should at least include the following steps:

• a. setting expectations of the customer’s behavio ur, such as the likely nature, amount, source and destination of transactions, so as to enable the institution to spot unusual transactions.
• b. ensuring that the customer’s account is reviewed regularly to understand whether changes to the c ustomer’s risk profile are justified.
• c. ensuring that any changes to the previously obtained CDD information that might af-fect the institution’s assessment of the ML/TF risk associated with the individual busi-ness relationship are taken into account.

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.