Asian Development Bank

Handbook on Anti-Money Laundering and Combating the Financing of Terrorism for Nonbank Financial Institutions

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  • mkarpyshynhas quoted4 years ago
    The Basel Committee on Banking Supervision, which is the primary standard setter for the prudential regulation of banks, has issued a set of guidelines which can be found online (http://www.bis.org/bcbs/publ/d353.htm)
  • mkarpyshynhas quoted4 years ago
    These papers and other materials can be found online (at http://www.fatgt-gafi.org). Additional materials can also be found on the website of the Asia/Pacific Group on Money Laundering (at http://www.apgml.org).
  • mkarpyshynhas quoted4 years ago
    Additional risks arise with companies operating in the following sectors:

    • money services businesses (money exchangers and remitters),

    • real estate, and

    • dealers in high-value goods such as precious metals and stones.
  • mkarpyshynhas quoted4 years ago
    The policies and procedures which should be put in place include the following requirements:

    • Assessing and understanding the risks arising from doing business

    • Know your customer and customer due diligence (CDD)

    • Monitoring transactions

    • Reporting suspicious transactions

    • Record keeping
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