Regulatory Alerts2025-05-02
AFM Annex - Guidelines on the Wwft and Sanctions Act: Key Points for CASPs
The Dutch Authority for the Financial Markets (AFM) issued this annex to provide specific Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) guidelines for Crypto-Asset Service Providers (CASPs) effective from February 4, 2025. The document mandates that CASPs implement robust risk assessments, enhanced due diligence for high-risk transactions, and strict sanctions screening procedures to prevent financial crime. Additionally, it outlines compliance requirements under the Transfer of Funds Regulation (TFR), including the 'Travel Rule' for crypto-transfers and mandatory reporting of unusual transactions to FIU-Nederland.
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