Bank of Cyprus achieves ISO 37301 certification

10:38 - 13 February 2025

Financial Services Reporter

Bank of Cyprus has earned ISO 37301 certification, an international standard for compliance management systems.

As noted in a relevant press release, this makes Bank of Cyprus the first organisation in Cyprus and in Southeastern Europe as a whole, to achieve this certification – held only by a small number of European banks.

The European Banking Authority has recommended the adoption of the ISO 37301, which features a wide-ranging approach based on risk and processes for the effective operation of Compliance units. It’s a useful tool with an immediate positive impact on company reputation, as it enhances the integrity and transparency culture and enables certified corporations to focus on best compliance practices as well as ethical practices.

Commenting on this important certification, Bank of Cyprus’ Chief Compliance Officer Marios Skandalis said, “The ΙSO37301 certification is not just another distinction achieved by our Bank; it primarily constitutes an independent corroboration of the efficacy of the Compliance function. In other words, it is a distinctive legacy for our customers, investors and all the Bank’s partners, leading to a further strengthening of the trust among us.”

Bank of Cyprus achieves ISO 37301 certification

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