Basel Committee consults on cooperation between prudential and AML/CFT supervision
The Basel Committee on Banking Supervision (Basel Committee) has published a consultative document entitled Introduction of guidelines on interaction and cooperation between prudential and AML/CFT supervision.
The Basel Committee proposes to amend its guidelines on the Sound management of risks related to money laundering and financing of terrorism published in June 2017, by providing detailed and practical guidelines on the interaction and cooperation between prudential and anti-money laundering and combatting the financing of terrorism supervision.
The proposed 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 and principles and guidelines published by the Basel Committee.
Stakeholders are to submit comments by February 6, 2020.
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