The Bank of Cyprus’ compliance team has received significant recognition from the Association of Compliance Officers in Greece, according to an announcement released this week.
The Compliance Awards ceremony took place in Athens, with Greek Minister of Economy and Finance Kostis Hatzidakis in attendance.
The Bank of Cyprus won the gold award for the best compliance team in the banking and financial sector, and the platinum award for the best compliance team across all sectors of the Greek economy.
These prestigious awards, the bank explained, highlight the significant progress recorded by the Bank of Cyprus’ compliance team in terms of proactively and effectively managing compliance challenges.
“This recognition reflects the efforts and sacrifices made by our Bank, which have led to a successful remediation over the past decade,” stated Marios Skandalis, Chief Compliance Officer at Bank of Cyprus.
“Efforts and sacrifices that were not only based on strict compliance criteria, but also on best international practices and on the principles of ethics, transparency, and integrity,” he added.
“This award belongs primarily to the fantastic team of colleagues in the Compliance Department, who has led our Bank to this unique success,” Skandalis concluded.
The bank further noted that the awards featured participation from Compliance units, including Regulatory, Anti-Money Laundering, Corporate Governance, Internal Controls/Fraud, Data Protection, and Risk Compliance Management, as well as consulting and law firms offering Compliance services across the broader Greek region.
