Global Standards · Basel Committee
Sound Management of Risks Related to Money Laundering (2020)
GuidanceIn Force
- Issuing authority
- Basel Committee on Banking Supervision
- Effective date
- 2014 revised July 2020
- Scope
- Banks
Key requirements
Tells banks how to manage AML risk at the institutional level. Written by the Basel Committee the global standard-setter for banking. Covers governance (who's accountable on the board), three lines of defence, AML risk assessment, correspondent banking and customer due diligence. Used by regulators worldwide.