EPIF is glad to share its views on two main issues currently discussed at Council level with regards to the review of the 3rd Anti-Money Laundering Directive: i) the introduction of CDD requirements for transfer of funds exceeding 1,000 EUR and ii) the possible re-introduction of an optional exemption for electronic money products from CDD [...]

EPIF welcomes the publication of proposals for the 4 th Anti-Money Laundering Directive (4AMLD). AML rules need to be calibrated to reflect the reality of PI’s operating models. EPIF would like to take the opportunity to identify some key areas that EPIF believes the 4AMLD should seek  to  address  but  currently  does  not.  This  includes,  [...]

EPIF welcomes that the European Supervisory Authorities (ESA) have recently started to provide specific guidance to the financial industry regarding the supervisory, passporting and reporting regime applicable to Payment Institutions (PI) and their agent network. The new supervisory protocol (the ‘Protocol’) provides helpful clarifications, in particular from  an  Anti-Money  Laundering  and  Counter-Terrorism Financing  (AML/CFT)  perspective.  [...]

The European Payment Institutions Federation (EPIF) welcomes and encourages the private stakeholder consultation that is currently taking place concerning a review of the 3rd Anti-Money Laundering (AML) Directive. Payment Institutions' (PI) compliance with anti-money laundering and counter terrorist financing obligations is a prerequisite for their authorisation under the Payment Services Directive (PSD). The current anti-money [...]

Commission Staff Working Paper on AML Supervision Of, and Reporting By, Payment Institutions in Various Cross-Border Situations