41. The AML/CFT compliance officer should ensure that adequate policies and procedures are put in …

The AML/CFT compliance officer should ensure that adequate policies and procedures are put in place, kept up to date and implemented effectively on an ongoing basis. The policies and procedures should be commensurate with the ML/TF risks that the credit or financial institution has identified. The AML/CFT compliance officer should at least:

• a) set out the AML/CFT policies and procedures to be adopted by the credit or financial institution, as well as the controls and systems to be implemented under Article 8(4) of Directive (EU) 2015/849;
• b) ensure that AML/CFT policies and procedures are implemented effectively by the credit or financial institution as explained under section d on Monitoring compliance;
• c) ensure that AML/CFT policies and procedures are reviewed regularly and amended or updated where necessary;
• d) propose how to address any changes in legal or regulatory requirements or in ML/TF risks as well as how to best address deficiencies or shortcomings identified through monitoring or supervisory activities.

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.