FATF. Recommendation 27.
Supervisors should have power to:
- Monitor financial institutions under the AML/CFT requirements.
- Ensure compliance by financial institutions with the AML/CFT requirements.
- Conduct inspections of financial institutions.
- Compel production of any information from financial institutions that is relevant to monitoring compliance.
- Impose disciplinary and financial sanctions for failure to comply with the AML/CFT requirements.
