What is banking compliance and why is it important?

Banking compliance refers to the process and controls that banks put in place to ensure they adhere to applicable laws, regulations, and industry standards. It is crucial to manage legal risk, build trust with regulators, and maintain operational integrity.

Which regulations are applicable to banks in the UK?

In the UK, banks must comply with regulations such as the Financial Services and Markets Act, Prudential Regulation Authority (PRA) rules, Financial Conduct Authority (FCA) regulations, anti‐money laundering (AML) laws, and data protection requirements.

Do you assist with obtaining banking licences and regulatory authorisations?

Yes. ABM Global Compliance provides support throughout the process of obtaining banking licences and regulatory authorisations, including preparing documentation, liaising with regulators, and ensuring ongoing compliance.

What is involved in a banking compliance audit?

A banking compliance audit involves reviewing policies, systems, and practices to identify gaps in regulatory compliance; assessing risk exposure; and recommending corrective actions to ensure full compliance with applicable regulatory standards.

How can strategic compliance solutions help my bank?

Strategic compliance solutions help banks align their compliance frameworks with business goals, implement robust systems for risk mitigation, and stay ahead of regulatory changes to avoid fines and reputational damage.

How do you monitor changes in banking regulation?

ABM Global Compliance tracks regulatory updates from bodies such as the FCA, PRA, and other relevant international regulators and reviews internal policies accordingly; we also provide advisory services to adapt to new requirements quickly.

Is there ongoing support after compliance frameworks are set up?

Yes. We offer ongoing monitoring, periodic reviews, staff training, compliance reporting, and adjustments to your framework as regulations evolve.

How do I start working with ABM Global Compliance for banking services?

You can contact us via phone at +44 207 515 7080 or email info@abmglobalcompliance.com/cy. We begin with a discovery call to understand your needs, then propose a tailored compliance plan.

Get Banking Compliance Services | Banking Licence Experts

Designing Comprehensive Compliance Frameworks for Banks

ABM Global develops tailored compliance frameworks aligned with the Central Bank of Cyprus (CBC), European Central Bank (ECB), and MOKAS requirements. We address governance, conduct and operational risk, AML/CTF controls, credit and liquidity risk management, and third-party outsourcing compliance. Our solutions integrate automated monitoring and reporting tools, ensuring efficiency, scalability, and resilience.

AML/CTF Program Development & Reviews

We assist Cypriot banks in designing and enhancing AML/CTF programs in accordance with the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 (as amended), MOKAS guidance, and FATF/EU directives. Services include CDD/EDD process design, sanctions and PEP screening, transaction monitoring, and STR preparation. Independent program reviews and gap analyses ensure readiness for supervisory inspections.

Book a Free Consultation – Get Licensed Faster!

Regulatory Licensing & Advisory for Banks

ABM supports applications for banking and payment institution licences under CBC and ECB frameworks. We guide both local and foreign institutions in fulfilling licensing, prudential, and conduct requirements. Our advisory extends to cross-border compliance within the EU single market and third-country equivalence arrangements.

Outsourced Compliance Functions

We provide outsourced Chief Compliance Officer (CCO), Money Laundering Reporting Officer (MLRO), and Data Protection Officer (DPO) services, ensuring day-to-day compliance monitoring, regulatory reporting, and governance updates.

Book a Free Consultation – Get Licensed Faster!

Banking-Specific Training and Capacity Building

Our training covers AML/CTF obligations, ECB/CBC prudential rules, governance requirements, and operational risk management through interactive and scenario-based learning.

Internal Audit & Regulatory Readiness Reviews

We conduct audits in line with CBC supervisory expectations, ECB SSM guidelines, and EU banking directives, providing actionable recommendations to strengthen compliance frameworks.

Book a Free Consultation – Get Licensed Faster!

Cross-Border & Global Banking Compliance

For Cypriot banks with international operations, we align group-wide policies with EU, FATF, and host jurisdiction requirements.

Ongoing Compliance Support

We offer periodic compliance health checks, CBC/MOKAS regulatory update briefings, and compliance dashboard reporting.