AI Summary of Article 12 Awareness of requirements
Obliged entities are required to implement measures to ensure that employees, agents, and distributors who need to be aware of relevant regulations, including Regulation (EU) 2023/1113, comply with all requirements. This encompasses understanding the organisation's wide-ranging risk assessments, policies, procedures, and controls related to processing personal data in line with the regulation.
These measures must include specific and ongoing training programmes for employees and relevant personnel. The training should be tailored to their roles and the risks associated with money laundering and terrorist financing faced by the obliged entity, and must be properly documented to ensure compliance and accountability.
Article 12 Awareness of requirements
Obliged entities shall take measures to ensure that their employees or persons in comparable positions whose function so requires, including their agents and distributors are aware of the requirements arising from this Regulation, Regulation (EU) 2023/1113 and any administrative act issued by any supervisor, and of the business-wide risk assessment, internal policies, procedures and controls in place in the obliged entity, including in relation to the processing of personal data for the purposes of this Regulation.
The measures referred to in the first paragraph shall include the participation of employees or persons in comparable positions, including agents and distributors, in specific, ongoing training programmes to help them recognise operations which may be related to money laundering or terrorist financing and to instruct them as to how to proceed in such cases. Such training programmes shall be appropriate to their functions or activities and to the risks of money laundering and terrorist financing to which the obliged entity is exposed, and shall be duly documented.