Financial Institutions, Designated Non-Financial Businesses and Professions, and Virtual Asset Service Providers shall appoint a Compliance Officer at management level and under their responsibility, who shall have independence in decision-making and possess appropriate competence and experience, and who shall undertake the following duties: 1. Monitoring Transactions related to the Crime. 2. Reviewing records and receiving, examining, and assessing Suspicious Transaction data, and deciding whether to notify the Unit or to retain the matter stating the reasons therefor, in full confidentiality. 3. Reviewing Anti-Money Laundering, and combating Financing of Terrorism, and Proliferation Financing internal systems and procedures, assessing their consistency with the provisions of the Decree by Law and this Resolution, evaluating the establishment’s level of compliance with their implementation, proposing what is necessary to update and develop them; and preparing periodic reports thereon to be submitted directly to Senior Management, and sending a copy thereof to the concerned Supervisory Authority upon its request, including Senior Management observations and decisions. 4. Developing, implementing, and documenting ongoing programs and training plans for employees of the establishment regarding all matters related to the Crime and methods of combating it. 5. Cooperating with the Supervisory Authority and the Unit, providing them with any data they may request, and enabling their assigned personnel to access the records and documents necessary for the exercise of their competencies.
Interpretation and application must be checked against the official text and current version.