The AML/Sanctions Compliance Officer must be consulted at an early stage during development of a new product or service, or materially altered one, to assess the inherent AML and Sanctions risk and to confirm that all AML and Sanctions regulatory requirements have been met, and appropriate mitigating controls are in place.Business Units must submit the details of a new product or service, recommended risk rating, and related AML and Sanctions mitigating controls to the AML/Sanctions Compliance Officer for review and approval. Approval from H.O. Head of AML and FCC Department, HO CCO, and HO Product Approval Committee is required prior to launching the new project or service. The approval process should comply with H.O. Risk Management Department’s requirements.