Recital 81

(81) In the context of the performance of their oversight function, supervisors might identify situations where breaches of AML/CFT requirements by third-country respondent institutions, or weaknesses in their implementation of the AML/CFT requirements, cause risks to the Union’s financial system. In order to mitigate those risks, it should be possible for AMLA to address recommendations to credit institutions and financial institutions in the Union in order to inform them of its views regarding the deficiencies of those third-country respondent institutions. Those recommendations should be issued where AMLA and financial supervisors in the Union agree that the breaches and weaknesses in place in the third-country respondent institutions are likely to affect the risk exposure of correspondent relationships by credit institutions and financial institutions in the Union, and provided that the third-country respondent institution and its supervisor have had the opportunity to provide their views. In order to preserve the good functioning of the Union’s financial system, credit institutions and financial institutions should take adequate measures in response to recommendations by AMLA, including by abstaining from entering into or continuing a correspondent relationship unless they can put in place sufficient mitigating measures to address the risks posed by the correspondent relationship.

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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.