238. Competent authorities should bear in mind that any institution can be exposed to ML/TF risk …

Competent authorities should bear in mind that any institution can be exposed to ML/TF risk regardless of the institution’s size or financial soundness. Therefore, sufficient attention should also be paid to institutions that are perceived to be financially sound and may have a good reputation given that these institutions might be specifically targeted for ML/TF purposes. Attention should also be paid to institutions that are very successful in attracting new customers/expanding market share – especially by using non-traditional distribution channels

• - since this could be related to weak customer due diligence controls at the onboarding phase.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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