PwC Financial Crime update—Q1 2023

05 April, 2023

This issue of the PwC Financial Crime quarterly update outlines the latest news and regulatory updates across the world of financial crime.

From an Irish perspective, the CBI released a Dear CEO letter in January 2023 which focused on supervisory findings and expectations for Payment and Electronic Money Firms. Statutory guidelines were also issued which provided guidance on the definition of ‘prominent public function’ under the Criminal Justice Act. 

From a European perspective, in March 2023, the European Banking Authority issued new guidelines on policies and controls for the effective management of ML/TF risks when providing access to financial services. In addition to this, the EBA issued a consultation paper on amendments to Guidelines on risk based AML/CFT supervision to include crypto-asset service providers. 

As always, the regulatory landscape is ever-changing and adapting to new financial crime threats. Read our newsletter to understand these developments and how they might affect your organisation.

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Sinead Ovenden

Partner, PwC Ireland (Republic of)

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