Basel Committee on Banking Supervision (BCBS)

The Basel Committee on Banking Supervision (BCBS), established by the central bank governors of the G-10 in 1974, provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide. Over recent years, it has developed increasingly into a standard-setting body on all aspects of banking supervision.

While banking supervisors are not generally responsible for the criminal prosecution of money laundering offenses or the ongoing anti-money laundering efforts in their countries, they have a role in ensuring that banks have procedures in place, including strict 'know your customer' policies. The Basel Committee has issued, among oth­er guidance documents, the Basel CDD Paper and the Basel Principles. The Committee's Secretariat is located at the Bank for International Settlements in Basel, Switzerland.