Regulatory Alerts2023-01-01
Rulebook on the Procedure for Assessing Money Laundering and Terrorist Financing Risks and the Method for Implementing Simplified and Enhanced Customer Due Diligence Measures
The Croatian Financial Services Supervisory Agency (HANFA) issued this Rulebook to mandate that regulated entities establish a risk-based procedure for assessing money laundering and terrorist financing risks associated with individual business relationships and occasional transactions. It requires obligors to conduct comprehensive customer due diligence, including initial and enhanced measures, while considering specific risk factors related to the customer, geography, products, and delivery channels. The document further stipulates that in case of conflict with European Banking Authority guidelines, those guidelines shall prevail, ensuring alignment with EU Directive 2015/849 standards.
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