Article 38 › 2

AMLA shall issue a recommendation addressed to credit institutions and financial institutions where there are concerns that respondent institutions in third countries fall into any of the following situations: (a) they are in serious, repeated or systematic breach of AML/CFT requirements; (b) they have weaknesses in their internal policies, procedures and controls that are likely to result in serious, repeated or systematic breaches of AML/CFT requirements; (c) they have in place internal policies, procedures and controls that are not commensurate with the risks of money laundering, its predicate offences and terrorist financing to which the third-country respondent institution is exposed.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04