Entire section Custom print Link Text Only Rich Text Print

FC-1.8.2

Conventional bank licensees must implement the following additional measures, prior to opening a correspondent banking relationship:

(a) Complete a signed statement that outlines the respective responsibilities of each institution in relation to money laundering detection and monitoring responsibilities; and
(b) Ensure that the correspondent banking relationship has the approval of senior management.
Amended: April 2011
October 07