BCBS – Sound management of risks related to money laundering and financing of terrorism
The Basel Committee’s document „Sound management of risks related to money laundering and financing of terrorism“ has been amended to introduce guidelines on cooperation and information exchange between prudential and AML/CFT supervisors for banks. These guidelines are detailed in new paragraph 96 in Part IV, „The role of supervisors,“ and Annex 5, which covers the interaction and cooperation between these supervisors. Annex 5 includes principles, recommendations, and descriptive examples to facilitate effective and efficient cooperation in various supervisory activities.