Basel Committee Publishes AML/CFT Supervisory Newsletter
Overview
According to Japan’s Financial Services Agency, the Basel Committee on Banking Supervision published its “Supervisory Newsletter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT)” on October 19. The document summarizes a survey of authorities’ data collection and assessment methods for AML/CFT risk, as well as a workshop on the role of AI and machine learning in transaction monitoring.
Key points
- The Basel Committee on Banking Supervision published the supervisory newsletter.
- It summarizes a survey on AML/CFT risk assessment and a workshop on transaction monitoring.
- The document is titled “Supervisory Newsletter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).”
Overview
Japan’s Financial Services Agency announced that the Basel Committee on Banking Supervision (Basel Committee) published the “Supervisory Newsletter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT)” (original title: “AML/CFT supervisory newsletter”) on October 19.
Details
The document summarizes the results of a survey on authorities’ data collection and risk assessment methods for AML/CFT risk assessment.
It also summarizes the results of a workshop on the role of AI and machine learning in transaction monitoring. For further details, the Financial Services Agency provides a link to the original “AML/CFT supervisory newsletter” on the Bank for International Settlements website.