The Basel Committee on Banking Supervision has printed ultimate up to date tips on the “Sound administration of dangers associated to cash laundering and financing of terrorism”. The up to date tips apply to all banks, banking teams and related regulators.
The up to date tips embody detailed steerage on the interplay between prudential and AML/CFT supervision to reinforce the effectiveness of the supervision of banks’ AML/CFT regimes. The up to date tips additionally merge and substitute two different Basel Committee paperwork, specifically Buyer due diligence for banks (October 2001) and Consolidated KYC threat administration (October 2004). The rules must be learn along with different Basel Committee papers, such because the Core ideas for efficient bank supervision, in addition to related steerage printed by the Monetary Motion Job Power.
View the up to date tips.