The Wolfsberg Group, an association of 13 global banks, has issued a set of frequently asked questions (FAQs) on risk assessments for money laundering, sanctions and bribery and corruption.

The FAQs include:

• What is the purpose of a risk assessment?
• Whose responsibility is it to undertake a risk assessment?
• Should the scope of a money laundering risk assessment encompass bribery and corruption along with other notable financial crimes?
• What is the conventional/standard money laundering risk assessment methodology?
• What impact should a financial institution’s risk assessment have on its risk appetite?

Copies of the FAQs and http://bit.ly/1K9gSw4

related webpage are available. http://bit.ly/1syr5eG