Answer:
Answer by Barry Thompson
I believe the information you request refers to the “Prevention of Criminal use of the Banking System for Purpose of Money Laundering,” issued December 1988. This is a five page document on money laundering that you can download at http://www.bis.org/bcbs/publ.htm.
Answer:
Answer by Mary Beth Guard
In the recent suit by five state insurance commissioners against two banks, alleging that deficiencies in the banks' anti-money laundering programs led to losses incurred by seven insurance companies, each of the banks had reportedly adopted the Basle principles and a copy was attached to the complaint.
See our article "Know Your Customer -- Or Be Liable to Third Parties?" for details.
First published on BankersOnline.com 9/16/02
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