AMLCTFregler

AMLCTFregler refers to anti-money laundering and counter-terrorism financing regulations that aim to detect and prevent the misuse of the financial system for illicit purposes. The rules require entities engaged in financial activities, including banks, payment service providers, insurers, and certain designated non-financial professions, to implement a risk-based framework for customer due diligence, ongoing monitoring, and reporting. Core obligations include customer due diligence (CDD) and enhanced due diligence (EDD) for higher-risk customers, verification of identity, and checks on beneficial ownership. Businesses must monitor transactions for suspicious activity, retain records, and report suspicious transactions to the national Financial Intelligence Unit (FIU) using suspicious activity reports (SAR/STR). They are typically required to appoint a compliance function and provide ongoing AML training.

The framework emphasizes a risk-based approach, requiring assessment of customer, product, channel, and geographic risks to determine appropriate controls. Screening for sanctions and politically exposed persons (PEPs) is common, and ongoing monitoring aims to detect changes in risk over time. Data retention obligations and cooperation with authorities are standard elements, while respecting applicable data protection laws. Non-compliance can lead to administrative penalties, fines, or criminal charges, as well as reputational harm.

AMLCTFregler align with international standards set by the Financial Action Task Force (FATF) and with regional directives such as the European Union’s AML Directives, which member states implement through national law. In practice, institutions employ risk assessments, onboarding controls, transaction monitoring, and reporting workflows to meet these obligations.