In its guidelines, the European Banking Authority (EBA) provides further clarity regarding Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AML/CFT efforts). Specifying the mandatory introduction of an AML/CFT compliance officer according to the Directive, the EBA aims to provide a common understanding for consistent application and thus, strengthening European AML/CFT efforts. For this purpose, expectations for an AML/CFT compliance officer as well as his responsibilities and tasks are defined and explained. In addition, ultimate responsibility for the implementation of AML/CFT obligations is to be borne by a member of the management body of the respective financial institution. From an operative perspective when asked about the role, responsibilities and tasks of internal audit functions (IAFs) in terms of AML/CFT efforts, the EBA refers to its own guidelines on internal governance published in July 2021, since IAFs are not discussed in detail by the above mentioned guidelines.
You can download the guidelines here.