Examinations

We undertake examinations as part of our ongoing supervision of businesses. They are a key tool in the execution of our regulatory functions, with particular regard to statutory and regulatory requirements and our guiding principles.

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Examination programme 2022

Our examinations process consists of several supervisory tools including the use of questionnaires/surveys, in-depth examinations/desk-based activities, or a combination of both.

For 2022, we will continue to focus on conducting financial crime, supervisory risk and thematic examinations. This will also include our Examinations Units focusing on testing some of the remediation activities undertaken by Industry following previously completed examinations.

The themes for the 2022 examination programme are:

  • Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Business Risk Assessment (BRA) and strategy;
  • The role of the Money Laundering Compliance Officer (MLCO) and;
  • Beneficial Ownership and Control (BOC).

The chosen themes represent key AML/CFT requirements and provide us with the opportunity to review the standard of compliance and management of associated risks across a number of different businesses. The feedback published will support a higher rate of compliance and wider industry education. See more details.

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