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 […]

On 4 July 2017, the Wolfsberg Group published updated guidance on how financial institutions should construct an effective anti-bribery and corruption compliance programme, together with a statement that summarises the changes made and the reasons for those changes. The guidance updates the anti-corruption paper published by the Wolfsberg Group in August 2011 – It has […]

An update of The Wolfsberg Group, ICC and BAFT Trade Finance Principles publication released this week looks at the financing of international trade for global and regional financial institutions in a heightened regulatory environment. The publication, updated for the first time since 2011, reflects growing regulatory expectations and the more stringent application of existing financial […]

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 […]

The Wolfsberg Group has published revised anti-money laundering principles for correspondent banking, frequently asked questions on correspondent banking, and the Wolfsberg Group anti-money laundering questionnaire. Copies of the principles; http://www.wolfsberg-principles.com/pdf/home/Wolfsberg-Correspondent-Banking-Principles-2014.pdf FAQs; http://www.wolfsberg-principles.com/pdf/home/Wolfsberg-Correspondent-Banking-FAQ-2014.pdf questionnaire; http://www.wolfsberg-principles.com/pdf/home/Wolfsberg-Anti-Money-Laundering-Questionnair webpage  http://www.wolfsberg-principles.com/  

Revised anti-money laundering principles for private banking – The Wolfsberg Group has published revised anti-money laundering principles for private banking. The principles are designed, in particular, to prevent the use of a bank’s worldwide operations for criminal purposes and minimise the risk of money laundering. These principles will be periodically updated to take into consideration […]