94. In some instances, competent authorities should consider whether the combination of two or more …

In some instances, competent authorities should consider whether the combination of two or more tools may be more effective. This includes situations where the competent authority is concerned about the accuracy of information received during off-site reviews or as part of AML/CFT returns. In such circumstances, it may be necessary for competent authorities to verify this information through an on-site inspection, which generally contains such elements as sampling of transactions and customer files, and interviews with key personnel and members of the management body. Competent authorities should be able to carry out ad hoc inspections when necessary, which do not form part of their supervisory strategy and plan. The need for such inspections may be triggered by a specific event, which may expose the sector/subsector or subjects of assessment to an increased ML/TF risk, or by significant changes in the ML/TF risk exposure of the sector/subsector or subjects of assessment, or may happen as a result of discovery of certain information by the competent authority, including through whistleblowing reports, widespread public allegations of wrongdoing, information from other public domestic or foreign authorities, a new ML/TF typology or supervisory findings relating to AML/CFT systems and controls or a wider internal controls framework. Where the competent authority has decided that an ad hoc inspection is warranted, it should determine the scope of the inspection, the focus of the inspection and whether it will involve any on-site elements, and if there is a need to involve and cooperate with other supervisors.

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1. Oversigt

1.1 Referencer

1.2 Identificerede krav

1.3 Relaterede standarder

2. Identificerede krav

3. Relaterede standarder

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