Global Standards · Wolfsberg Group
Wolfsberg AML Principles for Correspondent Banking
Industry StandardIn Force
- Issuing authority
- Wolfsberg Group
- Effective date
- 2023 latest revision
- Scope
- Banks
Key requirements
Industry standard for how banks should vet other banks they do business with. Written by the world's biggest banks (the Wolfsberg Group). Covers checking your bank partner's AML programme, understanding nested relationships (banks using your bank to serve their customers) and managing risks from high-risk countries.