Global Standards · Wolfsberg Group
Wolfsberg Trade Finance Principles
Industry StandardIn Force
- Issuing authority
- Wolfsberg Group
- Effective date
- 2019 current edition
- Scope
- Trade Finance
Key requirements
Industry standard for spotting money laundering in international trade. Trade-based money laundering is huge criminals manipulate invoices, ship phantom goods or use dual-use items to move illegal money. This document explains the red flags and what banks should do about them.