40. The AML/CFT compliance officer should report the results of the business-wide and individual …

The AML/CFT compliance officer should report the results of the business-wide and individual ML/TF risk assessment to the management body, via the member of the management body, or to the senior manager responsible for AML/CFT, or directly, if he/she deems it necessary. The AML/CFT compliance officer should propose to the management body the measures to take to mitigate those risks. The launch of a new product or service or significant changes to existing ones, the development of a new market or the undertaking of new activities should not be initiated until adequate resources to understand and manage the associated risks are available and effectively implemented.

• b. Development of policies and procedures

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/