The Basel Committee on Banking Supervision today issued a paper that emphasises the importance of banks managing their know-your-customer (KYC) risks on a global consolidated basis and provides guidance to banks in this regard. This paper was released for consultation in August 2003 and has since been revised to reflect a number of comments received. It now addresses more explicitly the need for banks to be able to share information with their head offices and urges jurisdictions in which legal impediments remain to remove them.