AML/CFT Compliance and Audit

Felix I. Lessambo ()
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Felix I. Lessambo: Fordham University

Chapter Chapter 27 in Anti-Money Laundering, Counter Financing Terrorism and Cybersecurity in the Banking Industry, 2023, pp 205-214 from Palgrave Macmillan

Abstract: Abstract The AML/CFT compliance function is central to banks or financial institutions’ AML/CFT efforts. The AML/CFT compliance officer should ensure that adequate policies and procedures are put in place, kept up to date and implemented effectively on an ongoing basis. Relevant information should be accessible by the banking group’s head office for the purpose of enforcing group AML/CFT policies and procedures. The bank’s group-wide policies and procedures should take into account issues and obligations related to local data protection and privacy laws and regulations.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-23484-2_27

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DOI: 10.1007/978-3-031-23484-2_27

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