Multinational Banks Adopt Anti-Money Laundering Guidelines

IMPORTANT: The full content of this page is available to premium users only.

Friday, December 1, 2000
Author: 
Bruce Zagaris
Volume: 
16
Issue: 
12
1031
Abstract: 
On October 30, 2000, a coalition of large international private banks announced a set of voluntary guidelines designed to reduce the incidence of anti-money laundering. The banks participating in the voluntary guidelines are ABN AMRO Bank, Barclays Bank, Banco Santander Central Hispano, S.A., Chase Manhattan Private Bank, Citibank, N.A., Credit Suisse Group, Deutsche Bank AG, HSBC, J.P. Morgan, Inc., Société Générale, and UBS AG. The guidelines’ preamble explains that they are designed for private banking relationships and that guidelines for other market segments may differ. The establishment of policies and procedures to implement the guidelines is the responsibility of the management...[more]