On 27 April, the EBA explained in an official statement how EU financial institutions and supervisors could:
– provide Ukrainian refugees with access to the EU financial system – without having to zealously comply with anti-money laundering and countering the financing of terrorism (AML/CFT) rules,
– protect vulnerable persons from human trafficking and exploitation – especially by cooperating with competent authorities and law enforcement agencies,
– ensure that compliance with the EU restrictive measures does not lead to unwarranted de-risking.
The EBA will continue to share best practices, set common regulatory expectations and facilitate the development of a common approach in the coming months, “to tackle financial crime and foster the financial inclusion of all vulnerable persons that are legally resident in the EU.”
Further details here.
