The Compliance Officer is the primary liaison with the FIU . The identities of the Compliance and Alternate Compliance Officers must be held with the strictest confidence.
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The duties of the Compliance Officer include:
a)Creating, monitoring and updating the AML/CFT Compliance Programme to ensure continuous compliance with the legal framework. The internal controls and policies therein must be implemented by the CO.
b)Receiving and assessing SAR/STR reports made by staff members.
c) Reporting SARs/STRs to the FIU using the Suspicious Activity/Transaction Report Form within fourteen (14) days of the suspicious transaction being detection.
d)Maintaining records of internal SARs/STRs from staff.
e)Maintaining a register of of SARs/STRs filed with the FIU.
f)Maintaining Customer Due Diligence records and transactions;
g) Monitoring the FATF list of high risk individuals and legal entities and Non-Cooperative Countries and Territories (NCCTs).
h)Monitoring the United Nations ISIL Da’esh & Al Qaida List (UN 2253 List) for persons identified as terrorists or involved in terrorist activity.
i)Provide training to all members of staff.
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP,
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