Transcription of Basel Committee on Banking Supervision
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Basel Committee on Banking Supervision
A revised version of this report was published in June 2017. Basel Committee on Banking Supervision guidelines Sound management of risks related to money laundering and financing of terrorism This document comprises the guidelines issued in January 2014 unchanged except for the addition of Annex IV -General Guide to Account Opening. February 2016. A revised version of this report was published in June 2017. This publication is available on the BIS website ( ). Bank for International Settlements 2016. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISBN 978-92-9197-421-4 (print). ISBN 978-92-9197-422-1 (online). A revised version of this report was published in June 2017. Contents Sound management of risks related to money laundering and financing of terrorism .. 1. I. Introduction .. 1. II. Essential elements of sound ML/FT risk 3. 1. Assessment, understanding, management and mitigation of risks .. 4. (a) Assessment and understanding of risks.
10. With respect to the scope of application, these guidelines should be read in conjunction with other standards and guidelines produced by the Committee that promote supervision of banking groups on a consolidated level. 12 This is particularly relevant in the context of AML/CFT since customers frequently
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