22nd June 2022

The FIAU would like to draw the attention of subject persons to the Guidelines published by the European Banking Authority (EBA), specifying the role and responsibilities of the anti-money laundering and counter funding 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 the adequate implementation of AML/CFT internal governance arrangements across the EU. This to be 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. Furthermore, the guidelines set clear expectations on the role, tasks and responsibilities of the AML/CFT compliance officer, and the management body and how they interact, including at group level. They complement, but do not replace, relevant guidelines issued by the EBA on wider governance arrangements and suitability checks.

The FIAU reminds that credit and financial institutions must make every effort to comply with these guidelines. Notwithstanding this, the guidelines provide for certain principles which may be equally of relevance to and applied by other subject persons. The guidelines will apply as of 1 December 2022.

This Guidance Note can be found on the EBA website or through the FIAU website, by accessing the following link.