EU guidance seeks to clarify role of AML/CFT compliance officers
By 
Jaclyn Jaeger2021-08-04T16:38:00
The European Banking Authority is seeking comment on new draft guidelines that set clear expectations regarding the appointment, role, tasks, and responsibilities of anti-money laundering and countering the financing of terrorism compliance officers.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleECB questions AMLA’s effectiveness over scope, resource concerns
The European Central Bank believes the European Union’s proposed new anti-money laundering agency needs to have a wider scope of direct supervision and more staff if it is going to be effective.
-
ArticleGerman AML deficiencies in spotlight ahead of election
A recent raid by German prosecutors of the country’s finance and justice ministries has once again put a spotlight on Germany’s apparent failings in tackling financial crime.
-
ArticleNew agency Europe’s latest hope to curb AML struggles
The European Commission unveiled new plans to set up an agency specifically aimed at tackling the region’s spiraling problems with money laundering.
More from Regulatory Policy
-
ArticleNew DOJ fraud division means broad realignment of resources and attorneys
A new Department of Justice (DOJ) division will lead investigations of government fraud, and take over duties—and staff, and funds– currently handled by other DOJ divisions and government agencies, Acting Attorney General Todd Blanche announced.
-
PremiumHong Kong wants to know if your bank has a culture problem
The Hong Kong Monetary Authority’s Bank Culture Reform program is in its eighth year. Phase 2 of its misconduct-sharing scheme covers more than 50,000 banking professionals. The shift signals regulators are evaluating whether culture works, not just prescribing rules.
-
NewsFinCEN proposes overhaul of AML rules, ending 2024 risk assessment requirements
A rule overhaul proposed by the U.S. Treasury Department’s Financial Crimes Enforcement Network is designed to reduce compliance burden, which would free up banks from tracking all but the most egregious illicit financial activities.