The Hellenic Bank Association (HBA) fully prescribes to the EBA’s initiative to draft Guidelines covering the role, tasks and responsibilities of AML/CFT compliance officers. We believe that the development of a coherent and fully structured and harmonized set of rules at EU level in relation to this topic is needed, taking into account that the EU AML/CFT regulatory framework remains at a large extent fragmented.
Nevertheless, the harmonization process should be further intensified and streamlined with future EU legislative proposals, bearing in mind the recent European Commission’s legislative package to strengthen the EU’s AML/CFT rules. Our comments and recommendations are set out below.
Regarding Question 1 we have no comments. We fully agree with the content of this section.
Regarding the provision of section 4.1.3, par. 16, point c, we express our concern whether the AML/CFT Compliance Officer’s required independence is ensured by requiring the management body (that is, in most cases, the Board of Directors) in its management function to approve the activity report.
In addition, in order to address our abovementioned concerns the proposed, under Section 4.2.1, par. 30, AML/CFT Compliance Officer’s independence conditions shall also be taken into consideration.
We propose to be clarified whether the compliance officer at management level as referred to in Article 8(4)(a) of Directive (EU) 2015/849and the member of the management board as referred to in Article 46(4) of Directive (EU) 2015/849 can be the same person or these roles need to be segregated. In our opinion, clarification is deemed essential, in order to avoid potential controversies.
We fully agree with the content of this Guideline, given the fact that it is streamlined with previous Guidelines issued by EBA dealing with this topic.
No comments, since this question is addressed to competent authorities.