Consultative paper on customer due diligence
By Bank for International Settlements (BIS)
This 2001 press release marks the Basel Committee's foundational step in standardizing Customer Due Diligence (CDD) globally. In response to the growing complexity of cross-border banking, the Committee identified four essential pillars for risk management: customer acceptance, customer identification, ongoing monitoring, and comprehensive risk management. The then-Chairman, William J.
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