Call for Action on Article 15 of the AMLR
EPIF, together with other EU Associations, continues to call on co-legislators to re-consider the proposed rules for exempting certain low-value, low-risk e-money products from the requirements under the AML Regulation. Both consumers and retailers greatly benefit from the current e-money exemption under the 5th AML Directive which should thus be maintained in the AMLR. In [...]
Joint Statement on the AML Regulation
EPIF is happy to share with you its Press Release on the impact of the AML Regulation on low-value gift cards and e-money products. The Head of the EPIF Secretariat, Nickolas Reinhardt, stated that “The proposal to remove the exemption is not necessary and disproportionate. There is a very low risk of such products being [...]
Joint Statement to Retain exemption for low-value, low-risk e-money products
EPIF has co-signed a Joint Statement to keep the option for anonymous low risk, low value e-money products in the EU anti-money laundering Rulebook. The retention of such exemption can be incorporated in EU Regulation in a compliant way and following a risk-based approach, without being in conflict with EU legislation and the FATF requirements. [...]
EPIF co-signs Industry One Pager on CDD Exemption for low-risk E-Money Products
EPIF is delighted to share with you the Joint Industry One Pager that it has co-signed on the CDD exemption for low risk E-Money Products (Article 12 AMLD) within the future AML/CTF Framework. EPIF considers this to be an important exemption, which is to the great benefit of consumers and that plays an important role [...]
EPIF response to the EBA Consultation on remote onboarding
EPIF is delighted to share with you its response to the EBA Consultation on new Guidelines on the use of remote customer onboarding solutions. EPIF very much welcomes the Guidelines but points out that further clarity should be provided. The use of plain language throughout the Guidelines would help regulators and businesses understand what is [...]
EPIF response to the Commission AML Package
EPIF is delighted to share with you its response to the Commission AML Package. EPIF very much welcomes the Commission’s proposals as part of the AML package. We have been strong supporters of moving to greater harmonization in the EU Anti-Money Laundering (AML) framework and we very much welcome the fact that parts of the [...]