Guidelines - Sound management of risks related to money laundering and financing of terrorism (updated July 2020)

Published date: 7 June 2017

	I. Introduction (paras. 1-13)
	II. Essential elements of sound ML/FT risk management (paras.14-62)
	1. Assessment, understanding, management and mitigation of risks (paras. 15-31)
	2. Customer acceptance policy (paras. 32-34)
	3. Customer and beneficial owner identification, verification and risk profiling (paras. 35-44)
	4. Ongoing monitoring (paras. 45-50)
	5. Management of information (paras. 51-55)
	6. Reporting of suspicious transactions and asset freezing (paras. 56-62)
	III. AML/CFT in a group-wide and cross-border context (paras. 63-83)
	1. Global process for managing customer risks (paras. 64-66)
	2. Risk assessment and management (paras. 67-68)
	3. Consolidated AML/CFT policies and procedures (paras. 69-76)
	4. Group-wide information-sharing (paras. 77-81)
	5. Mixed financial groups (paras. 82-83)
	IV. The role of supervisors (paras. 84-96)
	Annex 1 Using another bank, financial institution or third party to perform customer due diligence
	Annex 2 Correspondent banking
	Annex 3 List of relevant FATF recommendations
	Annex 4 General guide to account opening
	Annex 5 Interaction and cooperation between prudential and AML/CFT supervisors

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