Recital 11

(11) The extension of money laundering’s predicate offences to include the non-implementation and evasion of targeted financial sanctions requires the development of an understanding of threats and vulnerabilities in that area at the level of obliged entities, supervisors and the Union. In carrying out its supervisory tasks in relation to selected obliged entities, the Authority should therefore ensure that those entities have in place adequate systems to implement requirements related to targeted financial sanctions. Similarly, given its central role in ensuring an effective supervisory system across the internal market, the Authority should support supervisory convergence in that area to ensure adequate oversight of the compliance of credit institutions and financial institutions with requirements related to the implementation of targeted financial sanctions. The information collected through the Authority’s supervisory and convergence tasks constitutes a resource for the Union’s understanding of risks in relation to the non-implementation and evasion of targeted financial sanctions, and can contribute to the identification of effective mitigating measures. To that end, the Authority should contribute its experience and knowledge to the development of a risk assessment at Union level in relation to the non-implementation and evasion of targeted financial sanctions.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.