33. When the management body decides not to appoint a separate AML/CFT compliance officer, the …

When the management body decides not to appoint a separate AML/CFT compliance officer, the reasons should be justified and documented, and explicitly refer to at least the following criteria:

• a) the nature of the credit or financial institution ’s busine ss and the ML/TF risks associated therewith, taking into account its geographical exposure, customer base, distribution channels and products and services offering;
• b) the size of its operations in the jurisdiction, the number of its customers, the number and volume of its transactions and the number of its full-time equivalent employees;
• c) the legal form of the credit or financial institution, including whether the credit or financial institution is part of a group.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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