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

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