+20. Credit and financial institutions’ policies and procedures should, where permitted by national …

20. Credit and financial institutions’ policies and procedures should, where permitted by national …

Credit and financial institutions’ policies and procedures should, where permitted by national law, include options and criteria on adjusting the features of products or services offered to a given customer on an individual and risk-sensitive basis. These should include the following options:

a.offer payment accounts with basic features, where a credit institution is obliged to offer such accounts under the national transposition of Di-rective 2014/92/EU; or
b.impose targeted restrictions on financial products and services, such as the amount, the type or the number of transfers or the amount of trans-actions to and from third countries, in particular where these third coun-tries are associated with higher ML/TF risk, where permitted under na-tional law.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • EBA - Published by the European Banking Authority at https://www.eba.europa.eu/