Picture of tariq ali
Basel Committee issued a Consultative Document “Sound Management of Risks Related to Money Laundering and Financing of Terrorism”.
by tariq ali - Monday, 23 September 2013, 12:34 PM

The Basel Committee on Banking Supervision has issued new guidelines, whose main aim is to describe how banks should include money laundering (ML) and financing of terrorism (FT) risks within their overall risk management. The Committee’s intention in issuing this paper is to support countries’ implementation of the FATF standards with respect to their banks and banking groups, by exploring complementary areas and leveraging the expertise available in both organisations. Therefore, these guidelines are intended to be consistent with and to supplement the goals and objectives of the FATF standards.

Read more