Basel Committee Consultation Paper on customer due diligence

The Basel Committee has issued a consultation paper providing guidance to banks and banking supervisors on customer due diligence. The paper, drafted by the Working Group on Cross-border Banking, a joint working group of the Basel Committee and the Offshore Group of Banking Supervisors, forms part of the ongoing effort by the Committee to strengthen risk management procedures in banks globally. Comments are invited from national supervisors and banks before 31 March 2001.