Transcription of Guidelines on cooperation and information exchange …
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Guidelines on cooperation and information exchange …
Guidelines ON AML/CFT cooperation 1 Guidelines on cooperation and information exchange between prudential supervisors, AML/CFT supervisors and financial intelligence units under Directive 2013/36/EU EBA/GL/2021/15 16 December 2021 Guidelines ON AML/CFT cooperation 2 Contents 1. Executive summary 3 2. Background and rationale 4 3. Guidelines 8 4. Accompanying documents 32 Draft cost-benefit analysis/impact assessment 32 Feedback on the public consultation 38 Guidelines ON AML/CFT cooperation 3 1. Executive summary A strong regulatory and supervisory framework to detect and fight money laundering and terrorist financing ( AML/CFT framework ) that is implemented effectively is essential in order to safeguard the safety and soundness of institutions operating in the financial sector and the integrity and stability of the financial system.
absence of a formal framework to structure cooperation and information exchange, and a lack of understanding of the way such cooperation could be conducive to more effective supervision. Consequently, the Council in its December 2018 Council AML Action Plan requested a number of steps to be taken.
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