Remove barriers to group-wide Know Your Customer standards, urges Basel Committee

In its "Consolidated KYC Risk Management Publication" released in early October, the Committee said the adoption of effective group-wide KYC standards was an essential part of banks’ risk management practices.

Global banks should develop global risk management programmes that are supported by policies that incorporate group-wide KYC standards, says the Committee.

“For reasons of customer privacy, some jurisdictions continue to restrict banks’ ability to transmit names and balances as regards

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