On February 4, 2016, the Basel Committee on Banking Supervision issued the final revised version of the General guide to account opening, first published in 2003. Taking into account enhancements to the Financial Action Task Force Recommendations and other supplementary FATF publications, the guide sets forth procedures for account opening including collecting sufficient customer information to protect against money laundering and terrorism financing. The guide is an annex to the Sound management of risks related to money laundering and financing of terrorism (BCBS 353) Guidelines published in 2014. The BCBS 353 Guidelines address risk assessment and mitigation, monitoring requirements, customer identification and assessment, management of information, reporting of suspicious transactions and asset freezing, group wide information sharing and AML/terrorist financing policies and procedures, among other topics.
The revised Sound management of risks related to money laundering and financing of terrorism (BCBS 353), which was reissued without change, except for the new Annex IV General Guide to Account Opening is available at: http://www.bis.org/bcbs/publ/d353.pdf.