However, the explicit use of a variety of indicators poses a threat to the transparency and credibility of monetary policy, because there is then no immediate way of knowing which information has prompted interest rate decisions. In order to remedy this problem, most countries pursuing inflation targeting have taken to publishing inflation reports setting out the backgrounds to policy measures.
The “Financial System Act” promulgated in 1993 requires, based on the standards set by the Basel Committee, all credit institutions to identify their customers and keep records of transactions in addition to scrutinizing the properness and qualification of the shareholders and senior management. In 1996, AMCM issued guidelines relating to AML to be complied by all credit institutions.