2025-05-21 | BSD/DIR/CON/AML/018/033

Exposure of Draft Baseline Standards for Automated Anti-Money Laundering (AML) Solutions

The Central Bank of Nigeria (CBN) has released draft baseline standards for automated Anti-Money Laundering (AML) solutions, aiming to enhance the integrity and stability of Nigeria's banking system. These standards are designed to promote operational efficiency and regulatory compliance within financial institutions by leveraging technology-driven approaches. The guidelines cover key areas such as system functionality, transaction monitoring, customer due diligence, and data security, urging financial institutions to align their AML solutions within 12 months of the standards' issuance. Stakeholders are invited to provide comments and suggestions to enrich the final version, with submissions due by June 13, 2025.

Nigeria

Central Bank of Nigeria

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