The Basel Committee on Banking Supervision issued the updated version of its guidelines on Sound management of risks related to money laundering and financing of terrorism, with guides on the interaction and cooperation between prudential and anti-money laundering and combatting the financing of terrorism (AML/CFT) supervisors.
These guidelines are intended to enhance the effectiveness of supervision of banks’ money laundering and financing of terrorism risk management, consistent with and complementary to the goals and objectives of the standards issued by the Financial Action Task Force (FATF) and principles and guidelines published by the Basel Committee.
Read the article at BIS’ website.