Published by: http://www.bis.org
The Basel Committee on Banking Supervision provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide. It seeks to do so by exchanging information on national supervisory issues, approaches and techniques, with a view to promoting common understanding.
This review focuses on the increased need for customer due diligence (CDD) on both new and existing customers as banking develops globally. Recommendations are made for better know-your-customer (KYC) practices internationally.