11. The management body should be responsible for approving the credit or financial institution’s …

The management body should be responsible for approving the credit or financial institution’s overall AML/CFT strategy and for overseeing its implementation. To this end, it should collectively possess adequate knowledge, skills and experience to be able to understand the ML/TF risks related to the credit or financial institution ’ s activities and business model, including the knowledge of the national legal and regulatory framework relating to the prevention of ML/TF.

4.1.1 The role of the management body in its supervisory function in the AML/CFT framework

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA -

  EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

  DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.