BCBS Updates Correspondent Banking AML/CTF Guidelines

BCBS (the Basel Committee on Banking Supervision) issued revised guidelines on AML/CTF (anti-money laundering/countering terrorist financing) measures in correspondent banking and account opening, addressing concerns that stringent rules are prompting banks to de-risk their customer bases. In a statement, the Committee said: “The revisions guide the banks in the application of the risk-based approach for […]

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