AML Compliance Culture for CySEC Regulated Entities
Entities authorised and supervised by the Cyprus Securities and Exchange Commission (CySEC) face a significant challenge in ensuring compliance with the Anti-Money Laundering (AML) Framework. This challenge hinges on the cultivation of a robust compliance culture. It involves implementing measures and controls at both organisational and departmental levels, as well as fostering a culture of individual responsibility.
Over the past decade, entities regulated by CySEC have been obligated to meet a plethora of regulatory requirements addressing substantial risks related to money laundering and terrorist financing (ML/TF). Given the continuously evolving landscape of ML/TF practices and methods, it is imperative that relevant stakeholders remain vigilant and proactive in identifying and mitigating these risks.
Throughout this article, the SALVUS Regulatory Compliance team delves into the AML Regulatory Framework that applies to CySEC regulated entities and anticipated regulatory updates. Additionally, the team emphasises the importance of a robust compliance culture and the effective assessment and management of the ML/TF risks. The article centers on the following key areas:
- The AML regulatory framework
- Upcoming regulatory developments
- The compliance culture
- Assessment & management of the ML/TF risks
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Find the full article here: https://salvusfunds.com/2023/12/14/aml-compliance-culture-for-cysec-regulated-entities/
