RegAlert2026-03-25
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Recommendation No. 3/2026 (March 25) of the Magyar Nemzeti Bank on internal policies, procedures and controls ensuring the implementation of EU and national restrictive measures related to fund transfers and certain crypto-asset transfers
The Magyar Nemzeti Bank requires payment service providers and crypto-asset service providers to implement internal policies, procedures, and controls to identify persons subject to restrictive measures and prevent the provision of funds or crypto-assets to them. Providers must deploy effective screening systems calibrated to their risk exposure, maintain up-to-date data sets, and screen transactions and customer databases against relevant lists. The recommendation mandates regular system reviews, clear allocation of responsibility in outsourcing arrangements, and the screening of specific data fields including names, dates of birth, wallet addresses, and beneficial owners.
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Recommendation No. 3/2026 (March 25) of the Magyar Nemzeti Bank
on internal policies, procedures and controls ensuring the implementation of EU and national restrictive measures related to fund transfers and certain crypto-asset transfers
I. Purpose and Scope of the Recommendation
The purpose of this Recommendation is to formulate the expectations of the Magyar Nemzeti Bank (hereinafter: MNB) and thereby increase the predictability of law application, to facilitate the uniform application of relevant legislation by determining the factors that payment service providers and crypto-asset service providers supervised by the MNB must implement in relation to their internal policies, procedures, and control mechanisms when executing fund transfers and crypto-asset transfers in accordance with Regulation (EU) 2023/1113 of the European Parliament and of the Council of 31 May 2023 amending Regulation (EU) 2015/849 on information accompanying transfers of funds, in order to ensure the effective implementation of EU and national restrictive measures.
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Source: Magyar Nemzeti Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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