Publication of the Wolfsberg Group and IIF Comment Letter to EBA on de-risking

On 6 February, the Wolfsberg Group and Institute of International Finance submitted comments via email and online in response to the EBA’s public consultation on ‘de-risking’ announced on December 6. The joint comments highlight the importance of alignment with the FATF definition of ‘de-risking’, that financial institutions should have the ability to apply a risk based approach to non for profit organisations (NPOs) in line with FATF Recommendation 8, recognition that have their own role in understanding the risks that they face and finally that commercial and risk management decisions also factor into financial institutions’ decisions on providing/maintaining banking services to customers.

You can read the Comment Letter here.

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
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