Cryptocurrencies are seen as bringing innovation to the payments-services sector; furthering financial inclusion; and facilitating greater efficiency in cross-border transactions. However, as with other financial products and services, cryptocurrencies are also exposed to financial crime risks. The following article provides some background in relation to...

This is the second of two articles addressing the Basel Committee on Banking Supervision's (BCBS) Sound Management of Risks Related to Money Laundering and Financing Terrorism guidance.1 The previous article addressed the essential elements of sound money laundering (ML) risk management. This article focuses...