FSB, CPMI, FATF and BCBS press release on Wolfsberg Group CBDDQ

Following the publication of the updated Wolfsberg Group Correspondent Banking Due Diligence Questionnaire (CBDDQ),  The Financial Stability Board (FSB), The Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Market Infrastructures (CPMI) and the Financial Action Task Force (FATF) have released a joint statement welcoming this development.

The four institutions have recognised the CBDDQ as being ‘one of the industry initiatives that will help to address the decline in the number of correspondent banking relationships by facilitating due diligence processes.’

The Wolfsberg Group is pleased to receive such support for the Questionnaire and the benefit that it shall bring to the industry through the promotion of standardised Correspondent Banking Due Diligence. 

To view the full press release please follow the link below

Joint Press Release on The Wolfsberg CBDDQ

Back Office Consolidation
Controls for New Payment Methods
Credit Cards
DFS 504 Rule
Digital Identity
Future of Surveillance
Models & Methodologies
Negative News Best Practice
Retail Banking
RFI Benchmarking
Role of FCC professional
Source of Wealth/Source of Funds
Tax Transparency
Terrorist Financing and High Risk Charities
Trade Based Money Laundering
Vendor Procurement Due Diligence / ABC Control Framework
Recent articles
Publication of the CBDDQ Capacity Building Materials
Publication of Guidance on Customer Tax Evasion
Endorsement for Asia Pacific Banks Alliance Toolkit for tackling Human Trafficking