Attacks in US underscore know-your-customer rules, say bank regulators
BASLE, SWITZERLAND -- The September 11 attacks in the US underscored the need for banks to apply know-your-customer due diligence rules rigorously, the senior international bank regulator said in early October as the US sought to freeze the financial resources of the terrorists believed to be behind the onslaughts.
"Systematic customer due diligence is an essential element of the banks' risk management. It is critical to safeguarding confidence and the integrity of the banking system," said
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