RTS AML/CFT Control Readiness RTS-Compliant AML/CFT Controls, Effective, Defensible and Inspection-Ready EU AML supervision no longer assesses AML/CFT controls based on policy quality or formal descriptions. Supervisors now test control effectiveness against standardised AML/CFT control data points. From 2028 onwards, obliged entities must be able to demonstrate and submit 70 AML/CFT control data points to their National Competent Authority, such as BaFin (Germany), FMA (Austria) or CSSF (Luxembourg). These data points determine whether controls are considered adequate in light of the institution’s inherent risk profile. Failure to demonstrate effective AML/CFT controls leads directly to: The Problem with Traditional AML/CFT Control Frameworks Most AML/CFT frameworks are … Continue reading RTS AML/CFT Control ReadinessRead More →