According to the latest figures from the UN Refugee Agency (UNHCR), 5,429,739 Ukrainians have fled to neighboring countries since Russian forces invaded their country. Therefore, the European Banking Authority (EBA) called on EU financial institutions and supervisors to provide Ukrainian refugees with access to basic financial products and services.

On 27 April, the EBA explained in an official statement how EU financial institutions and supervisors could: 

- provide Ukrainian refugees with access to the EU financial system - without having to zealously comply with anti-money laundering and countering the financing of terrorism (AML/CFT) rules, 

- protect vulnerable persons from human trafficking and exploitation - especially by cooperating with competent authorities and law enforcement agencies, 

- ensure that compliance with the EU restrictive measures does not lead to unwarranted de-risking

The EBA will continue to share best practices, set common regulatory expectations and facilitate the development of a common approach in the coming months, “to tackle financial crime and foster the financial inclusion of all vulnerable persons that are legally resident in the EU.”

Further details here


Publié le 03 mai 2022