Publication of Wolfsberg Group statement on Developing an Effective AML/CTF Programme

The Wolfsberg Group is pleased to publish its statement on Developing an Effective Anti-Money Laundering (AML)/Counter-Terrorism Financing (CTF) Programme. This document outlines steps that Financial Institutions (FIs) can take to evolve their AML/CTF regimes to meet the key elements of an effective programme, which were set out in the Group’s December 2019 statement on Effectiveness:

1. Complying with AML/CTF laws and regulations

2. Providing highly useful information to relevant government agencies in defined priority areas

3. Establishing a reasonable and risk-based set of controls to mitigate the risks of an FI being used to facilitate illicit activity

The Group believes that the approach it has outlined will enable FIs to optimise the detection and deterrence of illicit activity, while at the same time reducing friction on innocent customers and helping governments achieve their financial inclusion objectives.

As AML/CTF regimes around the world continue to focus on effectiveness, the Group remains committed to collaborating with policy makers, supervisors, law enforcement agencies and other stakeholders to develop this approach further.

 The Wolfsberg Group statement on Developing an Effective AML/CTF Programme

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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