The Role

The Supervision Section is empowered to fulfil its functions at Law, through Article 16(1)(c) of the Prevention of Money Laundering Act (PMLA). Its function revolves around monitoring anti-money laundering/combating the funding of terrorism (AML/CFT) compliance by subject persons who carry out relevant financial business or relevant activity in terms of Regulation 2 of the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR). The role of the Supervision Section is based on two main pillars:

  1. Identification and assessment of money laundering and funding of terrorism (ML/FT) risks posed by subject persons; and
  2. The supervision of adherence to AML/CFT obligations by subject persons.

To perform these functions, the Supervision Section is split into teams, as outlined below.

Supervision Teams
Remediation Team
Quality Control Team
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