The Central Bank has also issued sector-specific provisions and guidelines in the area of AML and CFT for the various sectors under its supervision. These guidelines date back to 1991 and were lastly amended this year. The sector-specific provisions and guidelines have significantly increased the awareness of good compliance under the supervised institutions.
As a result hereof, we have noticed that the industry is increasingly devoting more resources to combating money laundering and terrorist financing and that the compliance function has taken an even more prominent place in the supervised institutions. Furthermore, the compliance programs of the supervised institutions are regularly being subjected to our review during our on-site examinations at the institutions.