The functions of an AML/CFT supervisor are to—
monitor and assess the level of risk of money laundering and the financing of terrorism across all of the reporting entities that it supervises:
monitor the reporting entities that it supervises for compliance with this Act and regulations, and for this purpose to develop and implement a supervisory programme:
provide guidance to the reporting entities it supervises in order to assist those entities to comply with this Act and regulations:
investigate the reporting entities it supervises and enforce compliance with this Act and regulations:
co-operate through the AML/CFT co-ordination committee (or any other mechanism that may be appropriate) with domestic and international counterparts to ensure the consistent, effective, and efficient implementation of this Act.