Key draft RTS and objectives:

• Business Relationships (Article 19(9) of Regulation (EU) 2024/1624)
  Defines criteria for identifying business relationships, occasional transactions, and linked transactions, forming the basis for customer due diligence obligations.
• Customer Due Diligence (Article 28(1) of Regulation (EU) 2024/1624)
  Outlines procedures for verifying customer identity and conducting ongoing monitoring in a risk-sensitive and proportionate manner.
• Enforcement (Article 53(10) of Directive (EU) 2024/1640)
  Establishes a unified supervisory approach for assessing and addressing breaches of AML/CFT obligations.

Consultation details:

• Deadlines for feedback:
• Business Relationships and Customer Due Diligence: 8 May 2026
• Enforcement: 9 March 2026
• Public hearing: An online session for the draft RTS on Business Relationships and Customer Due Diligence was scheduled for 24 March 2026.

CySEC Circular C755:

The Cyprus Securities and Exchange Commission (CySEC) issued Circular C755 to inform regulated entities, including financial institutions, crypto asset service providers and crowdfunding platforms, about these consultations. CySEC urges stakeholders to actively participate and provide feedback on the draft RTS.

Importance of non-financial sector participation:

AMLA highlights the significant role of the non-financial sector in combating financial crime and encourages their engagement in shaping these standards. Resources, including an explainer on sector-specific obligations, are available on AMLA’s website.

Call to action:

Stakeholders are encouraged to review the draft RTS and submit their input via AMLA’s public consultation platform. These efforts aim to establish a robust, risk-based, and proportionate AML/CFT framework applicable across the EU.

AMLA’s press release can be found here and CySEC’s Circular C755 here