BAFT — the American Bankers Association’s global transaction banking subsidiary — commented last week on the Basel Committee’s proposed revisions to its guidance on managing risks related to anti-money laundering and terror financing. In a joint letter with the Institute for International Finance, BAFT urged the committee to acknowledge that not all correspondent banking services and not all cross-border correspondent banking relationships are high-risk, and warned against any revisions to the guidance that would inadvertently further derisking activity.
Preparing for the departure of an information security officer
It can become an opportunity to bolster security governance and refine cybersecurity practices.