Compliance unit

Keeping your money safe!

The Group Compliance Unit (GCU) of Hellenic Public Company Ltd was created within the scope of the new regulatory framework of Basel II.

The Unit

The Group Compliance Unit (GCU) of Hellenic Public Company Ltd was created within the scope of the new regulatory framework of Basel II and the Directive of the Central Bank of Cyprus "Framework of Principles of Operation and Criteria of Assessment of Structure, Internal Governance and Internal Control Systems Banks”.

The GCU is administratively independent of any other units with responsibility for risk management or operational responsibilities or control/inspection functions of the bank and reports to the Board of Directors and the Group Chief Executive Officer.


The Unit is subject to review by the Internal Audit Unit regarding the measuring risks as well as identification, verification and assessment of the adequacy of related internal control procedures and regulations.

Primary duties

the implementation of appropriate procedures and controls for the prompt and on-going compliance of the Group and its subsidiary companies in Cyprus and abroad and its foreign branches with the existing regulatory framework in each country which is activated,

assessing the appropriateness of the bank's compliance procedures and regulations, promptly following up identified deficiencies, and, where necessary,formulating proposals for amendments of internal regulations and procedures,

the effective management of the compliance risks faced by the Group and the implementation of the Compliance Policy within the Group

ensuring compliance with the Prevention and Suppression of Money Laundering Activities Law of 2007 and the Central Bank of Cyprus directives and circulars for the prevention of money laundering and terrorist financing issued in accordance with article 59(4) of the said Law.