Recommendations for the Establishment of the Internal Control System for Anti-Money Laundering and Countering Terrorism and Proliferation Financing and Sanctions Risk Management, and for Customer Due Diligence

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The Financial and Capital Market Commission in cooperation with industry has developed recommendations that will serve as a practical guide for financial institutions through customer due diligence and enhancement of internal control system.

The objective of the recommendations is to have a common understanding on both the banks and regulator’s side of the application of laws and regulations in the area of the prevention of financial crime, as well as the introduction of risk-based approach.

The recommendations are continuously updated and complemented. The first version of the recommendations was adopted in summer 2020, but the complemented and updated version was adopted on 21 December 2021.

For any questions and recommendations, please contact us via e-mail

Information updated 19.05.2022


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