Wolfsberg

QUESTION: What is the Wolfsberg Group?

ANSWER: The Wolfsberg Group is an association of thirteen global banks that seeks to develop guidance and frameworks for the management of financial crime risks, including anti-money laundering and counter-terrorist financing.

QUESTION: Why was the Wolfsberg Group established?

ANSWER: The Wolfsberg Group was established in 2000 in response to increasing concerns about the role of banks in facilitating financial crime.

QUESTION: What are some of the key initiatives of the Wolfsberg Group?

ANSWER: The Wolfsberg Group has developed various industry standards and guidance documents, including the Wolfsberg AML Principles for Correspondent Banking and the Wolfsberg Due Diligence Questionnaire.