The Basel Committee has published the updated version of its guidelines for supervisors on co-operation in relation to the sound management of risks related to money laundering and the financing of terrorism. Among the updated content are new paragraphs about the role of supervisors and the interaction and co-operation between prudential and AML/CFT supervisors. The guidance gives specific principles and recommendations, with examples, for cooperation in relation to authorisation-related procedures, ongoing supervision and enforcement actions.
Basel Committee finalises AML/CFT guidelines
Scales of Justice ( Lady of Justice) of the Central Criminal Court fondly known as The Old Bailey in the city of London, England, UK