Basel Committee AML Guidelines

The Basel Committee on Banking Supervision (BCBS) issued its Anti-Money Laundering (AML) Guidelines in 2001 and revised them in 2004 to strengthen global banking standards. These guidelines provide internationally accepted principles for preventing the use of the banking system for money laundering and terrorist financing.The guidelines promote a risk-based approach to customer due diligence, internal controls, compliance governance, and regulatory cooperation. While non-binding, they are widely adopted by national regulators and form the basis for AML supervision across jurisdictions. The framework is particularly relevant to banks, central banks, financial regulators, and multinational banking institutions operating under Basel norms.