Technical standards for AML/CFT risk mitigation in third countries

This regulation sets out the specific technical standards that credit and financial institutions must follow to prevent money laundering and terrorist financing. It focuses on the minimum actions and additional security measures required when dealing with transactions involving certain non-EU countries identified as having high risks.

Financial institutions and banks are affected. They must implement stricter customer due diligence and monitoring processes for transactions linked to these high-risk third countries to protect the EU financial system.