Halister News

(Bloomberg) -- The Basel Committee on Banking Supervision proposes guidance on combating money laundering and terrorist financing in correspondent banking.

• “The draft revisions aim to ensure that banks conduct correspondent banking business with the best possible understanding of the applicable rules on anti-money laundering and countering the financing of terrorism,” the BCBS says.
• “They reflect growing concerns in the international community about banks avoiding these risks by withdrawing from correspondent banking, which may, in turn, affect the ability to send and receive international payments in entire regions,” the BCBS says.
• Link: http://www.bis.org/press/p161123.htm