The Wolfsberg Group (the “Group”) is pleased to publish updated Guidance as to how Financial Institutions (“FIs”) should construct an effective Anti-Bribery and Corruption (“ABC”) Compliance Programme. The paper entitled “Anti-Bribery and Corruption Compliance Programme Guidance” (“the Guidance”) updates the 2011 Anti-Corruption Guidance paper and, as before, has been developed in collaboration with the Basel Institute on Governance and with input from Transparency International.

The document is designed to provide guidance to the broader financial services industry on how to develop, implement and maintain an effective ABC Compliance Programme.

The overall objective of the Guidance is to promote a culture of ethical business practices and compliance with ABC legal and regulatory requirements.

The recently published Wolfsberg Guidance on Politically Exposed Persons (“PEPs”) helps FIs to address the money laundering risk posed by PEPs and to maintain strong defences against customers potentially involved in bribery and corruption.

This Guidance, however, focuses on how FIs can manage their own bribery and corruption risk in respect of the behaviour of their employees and third parties acting on their behalf.

The full Publication Statement on Anti-Bribery and Corruption Compliance Programme Guidance issued by the Wolfsberg Co-Chairs and Executive Secretary and Wolfsberg Anti-Bribery and Corruption Compliance Programme Guidance can be accessed below

1. Wolfsberg Group Publication statement- https://www.wolfsberg-principles.com/sites/default/files/wb/pdfs/wolfsberg-standards/2.%20Wolfsberg-Group-Publication-Statement-ABC.pdf
2. Wolfsberg Group ABC Guidance – https://www.wolfsberg-principles.com/sites/default/files/wb/pdfs/wolfsberg-standards/3.%20Wolfsberg-Group-ABC-Guidance-June-2017.pdf
3. https://www.wolfsberg-principles.com/