Introduction of guidelines on interaction and cooperation between the prudential and AML CFT supervision.
The Basel Committee is consulting on Introduction of guidelines on interaction and cooperation between prudential and AML/CFT supervision.
Consistent with the goals and objectives of the standards issued by the Financial Action Task Force (FATF) and principles and guidelines published by the Basel Committee, the proposed revisions provide further detailed guidelines to strengthen the interaction and cooperation between prudential and AML/CFT supervisors.
The proposed changes to theSound management of risks related to money laundering and financing of terrorism include a new provision in "The role of supervisors" section that recommends establishing an effective cooperative system and a supplementing annex with specific recommendations and descriptive examples to facilitate supervisory cooperation.
The Committee invites comments on the consultative document. Comments should be uploaded here by 6 February 2020. All comments will be published on the website of the Bank for International Settlements unless a respondent specifically requests confidential treatment.
- Publication Date: November 2019
- Publication Type: Consultative
- Publication Status: Closed
- Publication Category: Anti Money Laundering
- Number of Pages: 20
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