On the 10 December 2021, the European Banking Authority (EBA) launched a public consultation on its draft Guidelines on the use of remote customer onboarding solutions. These Guidelines set out the following:
• the measures financial institutions should adopt when choosing remote customer onboarding tools and when assessing the adequacy and reliability of such tools, to comply with the legislation on anti-money laundering and on the countering of the financing of terrorism (AML/CFT), the EU’s data protection framework and the principle of technological neutrality;
• common EU standards on the development and implementation of sound, risk-sensitive initial customer due diligence (CDD) policies and processes in the remote customer onboarding context.
After adoption, these Guidelines will apply to all financial sector operators falling within the scope of the Anti-Money Laundering Directive (AMLD).
The deadline for submitting comments is 10 March 2022 and a public hearing will take place on 24 February 2022.
