Risk management guidelines related to anti-money laundering and the financing of terrorism issued by the Basel Committee
27 June 2013
The Basel Committee on Banking Supervision has today published for public comment its proposed Sound management of risks related to money laundering and financing of terrorism.
The Committee has a longstanding commitment to promote the implementation of sound policies and procedures related to anti-money laundering and countering the financing of terrorism. These are important safeguards in protecting the safety and soundness of banks and the integrity of the international financial system.
The proposed guidelines take into account the February 2012 recommendations set out in the Financial Action Task Force International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation. In particular, the proposal published today reflects the importance of a risk-based approach, which is the first of the FATF recommendations, and is fully aligned with other Committee guidance on this topic.
The Basel Committee welcomes comments on this consultative document. Comments on the proposals should be submitted by Friday 27 September 2013 by e-mail to: email@example.com. Alternatively, comments may be sent by post to: Secretariat of the Basel Committee on Banking Supervision, Bank for International Settlements, CH-4002 Basel, Switzerland. All comments may be published on the website of the Bank for International Settlements unless a comment contributor explicitly requests confidential treatment