IIF Authors

Status: Will be live at 02/11/2020 15:29

IIF Letter on BCBS AML/CFT and Prudential Supervision Consultation

The IIF has commented on a Basel Committee Consultation on draft guidance for cooperation between AML/CFT and prudential supervisory authorities. Overall, the IIF supports closer coordination across the regulatory community when dealing with issues concerning illicit financial flows. Among other things, the letter offers suggestions in relation to the operation of supervisory colleges in this area and suggests increasing FIU, law enforcement, private sector and data protection authority cooperation within the envisioned framework.