EBA欧洲银行-EBA-Op-2016-07-28Opinion-on-Customer-Due-Diligence-on-Asylum-Seekers29_11页_284kb

EBA Opinion on Customer Due Diligence for Asylum Seekers from Higher-Risk Third Countries

Core Content

The European Banking Authority (EBA) issued an opinion on 12 April 2016 regarding the application of Customer Due Diligence (CDD) measures to asylum seekers from higher-risk third countries or territories. The opinion aims to help credit and financial institutions balance the need for financial inclusion of asylum seekers with compliance with AML/CFT requirements.

Main Points

Compliance Challenges and Financial Inclusion

• The large influx of asylum seekers in 2015, particularly from countries like Syria and Afghanistan, has created compliance challenges for financial institutions due to the lack of traditional identity documents and the risk of fraudulent activity.
• Financial inclusion is crucial for asylum seekers' integration into European society and for preventing financial crimes by ensuring transactions are conducted within legal frameworks.
• The EBA emphasizes that the EU legal framework is flexible enough to allow for a proportionate and effective response to these challenges.

Legal Basis and Obligations

• The EBA's opinion is based on EU AML/CFT Directives and the relevant national laws implementing them.
• Institutions must apply CDD measures before establishing a business relationship, and these measures must be risk-sensitive.
• The PAD (Directive 2014/92/EU) grants asylum seekers the right to a basic payment account, provided institutions can comply with their AML/CFT obligations.

Identification and Verification

• Institutions may accept official identity documents issued by EU Member States as valid for verification, provided they are current, issued by an official authority, and include the applicant's full name and date of birth.
• Additional information such as a unique ID, photograph, and address may be required, especially for temporary or provisional documents.
• If identity cannot be verified, institutions are not allowed to establish a business relationship.

Risk Mitigation Measures

• Institutions should implement monitoring measures, including transaction monitoring and regular reviews of asylum seekers' accounts, to manage ML/TF risk effectively.
• Monitoring should be risk-sensitive and aligned with the institution's overall risk management policies.
• Institutions may apply limits on financial products and services, such as restricting credit, transaction amounts, and transfers to higher-risk countries, but these must be proportionate and consistent with how they treat other customers.

Policies and Record-Keeping

• Institutions must have clear policies and procedures for managing the ML/TF risk associated with asylum seekers.
• These policies should be explicitly addressed in the business-wide risk assessment and include case-by-case controls.
• Decisions to refuse or limit services must be clearly documented and justified to competent authorities.

Collaboration and Guidance

• The EBA encourages competent authorities to provide guidance to institutions on how to apply the opinion in their national legal frameworks.
• Institutions should collaborate with other entities, including law enforcement, to share information and enhance AML/CFT controls.
• Language barriers may hinder understanding of the purpose of financial services, so institutions should consider employing multilingual staff or opening specialized branches to support asylum seekers.

Key Information

• Asylum seekers are defined as individuals seeking asylum under the Geneva Convention and related international treaties.
• Higher-risk third countries are those associated with significant ML/TF risk due to terrorist groups and related activities.
• PAD Directive (2014/92/EU) ensures that asylum seekers can access basic payment accounts unless there are specific legal grounds to refuse them.
• Verification requirements are met by official identity documents issued by EU Member States, with additional data recommended for enhanced accuracy.
• Risk-based approach is central to the EBA's recommendations, allowing for proportionate measures without unduly restricting access to financial services.

Conclusion

The EBA concludes that the EU legal framework supports a balanced approach to managing ML/TF risks associated with asylum seekers from higher-risk countries. By applying risk-sensitive CDD measures and monitoring, institutions can ensure both compliance and financial inclusion. The opinion encourages competent authorities to provide clear guidance and supports the development of a consistent approach across the EU.