The Regulatory Authorities of Financial Institutions, Designated Non-Financial Businesses and Professions and Virtual Asset Service Providers, each according to its competence, shall undertake the tasks of supervision, control and follow-up to ensure compliance with the provisions stipulated in the Decree-Law, this Resolution, the supervisory decisions and any other relevant decisions. They shall also be concerned with the following:

1. The identification, evaluation and updating of the potential risk of the crime in legal persons, including Financial Institutions, Designated Non-Financial Businesses and Professions, virtual assets activities and Virtual Asset Service Providers activities.
    
2. The application of a risk-based approach to ensure that the money laundering and terrorist financing prevention or mitigation measures are commensurate with the identified risks.
    
3. The development of instructions, systems and models to counter crime for those under its control when necessary.
    
4. The development of the policies, procedures and controls necessary to verify the compliance of those under its control with the provisions of the Decree-Law, this resolution and any other legislation related to confronting crime in the state, and requesting information related to the implementation of this commitment.
    
5. The development of merit and eligibility regulations, rules and standards and applying them to anyone who seeks to own, control, participate in the management or operation of Financial Institutions, Designated Non-Financial Business or Professions or virtual assets services providers, directly or indirectly, or who is the beneficial owner thereof.
    
6. Office and field supervision and inspection of Financial Institutions, Designated Non-Financial Businesses and Professions, and Virtual Asset Service Providers on the basis of a risk-based approach.
    
7. Determining the periodicity of the supervision and inspection of Financial Institutions, financial groups, Designated Non-Financial Businesses and Professions and Virtual Asset Service Providers based on the following:
    
   1. National Risk Assessment
       
   2. The distinctive features of Financial Institutions, financial groups, Designated Non-Financial Businesses and Professions and Virtual Asset Service Providers, in terms of their diversity, size and degree of freedom of disposal granted to them according to the risk-based approach.
       
   3. Crime risks and understanding them and the policies, internal controls and procedures applied by Financial Institutions, financial groups, Designated Non-Financial businesses or Professions or Virtual Asset Service Providers, as defined in the Supervisory Authority's assessment of their respective risk structure.
       
8. Taking all necessary measures to ensure full compliance with the Financial Institutions, Designated Non-Financial Businesses and Professions and Virtual Asset Service Providers by implementing the Security Council resolutions relating to the prevention and suppression of terrorism and its financing and the prevention, suppression and cessation of the proliferation of weapons of mass destruction (WMD) and their financing. This is in addition to other relevant resolutions, through field visits and continuous follow-up, and imposing appropriate administrative penalties when violating or failing to apply the instructions.
    
9. Verifying that the establishments under its control adopt and apply the controls, procedures and measures prescribed in accordance with the provisions of the Decree-Law and this resolution, and implementing them in its foreign branches and subsidiaries in which it owns the majority share to the extent permitted by the regulations of the state in which these branches and companies are located.
    
10. Verify the extent to which the Financial Institutions subject to the international basic principles of financial control are subject to regulation and control in accordance with those principles. Such principles shall include the application of consolidated control at the level of the financial group for AML/CFT purposes. This is in addition to ascertain the extent to which they are subject to regulation, control or follow-up, with regard to other Financial Institutions, in accordance with the degree of ML/FT risks.
     
11. Reviewing the assessment of the Establishment and the financial group of the crime risk structure, including the risk of non-compliance, periodically or when there are significant developments in the management of the Establishment or the financial group and its operations.
     
12. Establishing adequate controls and procedures to ensure that Financial Institutions, Designated Non-Financial Businesses and Professions, and Virtual Asset Service Providers are informed of the Committee's decisions related to the following:
     
    1. Enhanced due diligence and countermeasures identified by the Committee.
        
    2. Any concerns related to weaknesses in AML/CFT systems in other countries.
        
    3. Any other resolutions issued by the Committee.
        
13. Providing those under its control with guidance and feedback to enhance the effectiveness of its implementation of anti-crime measures.
     
14. Maintaining an updated list of the names and data of compliance officials of the establishments under its control and informing the unit of it. In addition, it has the right to oblige those establishments to obtain its prior approval before appointing compliance officials.
     
15. Organizing awareness programs and campaigns on anti-crime.
     
16. Issuing decisions to impose administrative sanctions in accordance with the provisions of the Decree-Law, this Resolution, the supervisory decisions and any other relevant decisions and the mechanism of filing complaints against them.
     
17. Keeping statistics on the measures taken and the sanctions imposed.