+48. The AML/CFT compliance officer should bring to the attention of the member of the management …

48. The AML/CFT compliance officer should bring to the attention of the member of the management …

The AML/CFT compliance officer should bring to the attention of the member of the management body or the senior manager responsible for AML/CFT:

  • a) the areas where the operation of AML/CFT controls should be implemented or improved;
  • b) the appropriate improvements suggested in relation to point (a) above;
  • c) a progress report of any significant remedial programmes, at least once a year as part of the activity report referred to in paragraph 50 and on an ad hoc basis or periodically, depending on the improvements, to provide information about the level of exposure to the ML/TF risks, and the measures taken or recommended to reduce and effectively manage these risks;
  • d) whether the human and technical resources allocated to the AML/CFT compliance function are insufficient and should be reinforced.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

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