Compliance Function and AML/CFT Oversight
What this control requires
Establish a compliance function with designated AMLCO/Compliance Officer. The function must: monitor regulatory compliance, manage AML/CFT programme, report to management body, and have adequate resources and authority. Conduct annual compliance assessment and report findings to management body.
Other LOI PI 2018 controls
BEPI-A10-001 - Administrative File Completeness and CurrencyBEPI-A17-001 - Initial Capital Maintenance and MonitoringBEPI-A20-001 - Management Fitness and Propriety ProgrammeBEPI-A21-001 - Sound Governance and Internal Control FrameworkBEPI-A47-001 - Client Funds Safeguarding ControlsBEPI-A50-001 - Own Funds Adequacy MonitoringBEPI-A53-001 - Risk Management Function ImplementationBEPI-A58-001 - Payment Security Incident Reporting to NBBBEPI-A63-001 - NBB On-Site Inspection ReadinessBEPI-A9-001 - NBB Authorisation — Pre-Application Readiness Assessment