EBA Guidelines on AML officer

The European Banking Authority (EBA) published on June 15th its Guidelines specifying the role and responsibilities of anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officer and of the management body of credit or financial institutions. These Guidelines aim to ensure a common interpretation and adequate implementation of AML/CFT internal governance arrangements across the EU in line with the requirements of the EU Directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (ML/FT). The document sets clear expectations on the role, tasks, and responsibilities of the AML/CFT compliance officer and the management body and complements but does not replace relevant guidelines issued by the EBA on wider governance arrangements and suitability checks. The Guidelines will apply from 1 December 2022.
In this alert, you will read more about the highlights of the new guidelines and how can Deloitte help.