The Basel Committee on Banking Supervision has published a Consultative Document entitled "Due diligence and transparency regarding cover payment messages related to cross-border wire transfers".

The Consultation Document examines the circumstances when an intermediary bank is located in a jurisdiction other than that of the originator's bank and beneficiary's bank. It outlines the supervisory expectations about information that must be included in payment messages related to cover payments; the various mechanisms that must be used to ensure that complete and accurate information has been included in such messages; and how that information should be used for anti-money laundering and combating the financing of terrorism purposes. Comments are invited by 16 September 2008.

ViewDue diligence and transparency regarding cover payment messages related to crossborder wire transfers, 17 July 2008