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Version date: 16 December 2021 - onwards

7.3 Assessment of outsourcing arrangements (paras. 74-75)

Prudential supervisors

74. The prudential supervisor responsible for monitoring the outsourcing arrangements of institutions as defined in the EBA Guidelines on outsourcing arrangements should exchange information related to relevant outsourcing arrangements with the relevant AML/CFT supervisor. Such exchange should take place in particular in cases where the prudential supervisor has reasonable grounds to suspect that the outsourcing arrangements could impact the ML/TF risk exposure of the institution or its continuing compliance with its obligations under Directive 2013/36/EU and Directive (EU) 2015/849, including when:

a. there are potential concerns about the proper oversight and governance arrangements with regards to the function outsourced and the impact on the ML/TF risks that the institution faces, the access to customer data, the reliability of records, or the allocation of tasks between the institution and the service provider, particularly when the provider is not an oblige

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