Events listed in [WolfsbergGroup] Wolfsberg Group

Asset Management
opinion

Publication of the Wolfsberg Group-IIF joint response to the FATF’s public ...

ID 26207
The Wolfsberg Group and the IIF jointly responded to the FATF public consultation (see eventid=23946) on its Risk-Based Guidance on Recommendation 25 (Beneficial Ownership and Transparency of Legal Arrangements). The Wolfsberg Group and IIF assert that ensuring the provision of competent authorities and regulated entities with accurate, verified, and up-to-date BO information is crucial for effectively combating financial crime. They emphasize that regulated entities ...

Publication of the updated Wolfsberg Group Payment Transparency Standards

ID 25414
The Wolfsberg Group has published an updated version of its Payment Transparency Standards, which aim to ensure minimum levels of transparency in payment processing and provide clarity on the responsibilities of various stakeholders involved in the payment chain. The **updated Standards broaden coverage to include all types of payment service providers and use ISO 20022 terms, expand the list of stakeholders to include payment ...
Asset Management
opinion

Wolfsberg EBA CP202311 Consultation Response

ID 24768
EBA has released revised Guidelines on ML/TF risk factors (EBA/CP/2023/11). These guidelines extend to all credit and financial institutions, aiming to include CASPs within the scope of the Guidelines, and emphasizing the importance of addressing ML/TF risks uniformly across the industry. EBA is seeking to establish regulatory expectations for CASPs to effectively identify and mitigate ML/TF risks, considering the unique characteristics of crypto assets ...
Asset Management
opinion

Wolfsberg Group Response to FATF Consultation relating to Non-Profit Organisations

ID 24680
The Wolfsberg Group, in response to the FATF’s public consultations, has expressed its feedback on the revisions to R.8/INR.8 and the BPP concerning NPOs and their vulnerability to terrorist financing abuse. The Group welcomes the revisions aimed at implementing a risk-based approach, recognizing the diversity in the risk profiles of NPOs. Concerning the placement of example measures in INR.8, they argue that their removal ...
Asset Management
opinion

Publication of the Wolfsberg Group Response to the CPMI Consultation on ISO 20022 ...

ID 23150
On 1 March 2023, the BIS’ CPMI released a consultative report on ISO 20022 harmonisation requirements aimed at improving cross-border payments, to which the Wolfsberg Group has provided comments, thereby addressing financial crime compliance risks in today’s complex and intermediated payment landscape. Questions 2 & 3, 5 & 7, and 32: These questions address various aspects of ISO 20022 message types and payment transparency. ...
Asset Management
procedure

Publication of the ABC Guidance

ID 22805
The Wolfsberg Group has released an updated its Wolfsberg Anti-Bribery and Corruption Compliance Programme Guidance to promote ethical business practices and compliance with legal and regulatory requirements. The guidance is designed to provide guidance to the financial services industry on how to develop, implement, and maintain an effective ABC Compliance Programme. The overall objective of the Guidance is to **promote a culture of ethical ...
Asset Management
information

Publication of the CBDDQ, FCCQ, Guidance, Glossary and FAQs

ID 21826
On 10 February 2023, the Wolfsberg Group issued a press release, announcing the publication of Version 1.4 of the Correspondent Banking Due Diligence Questionnaire (CBDDQ) and Version 1.2 of the Financial Crime Compliance Questionnaire (FCCQ), along with updated supporting Guidance, Glossary and FAQs documents. The Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Market Infrastructures (CPMI), the *Financial Action Task Force ...
Asset Management
opinion

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

ID 21767
On 7 February 2023, the Wolfsberg Group together with the Institute of International Finance (IIF) (thereafter called „the Group“) issued a press release, informing about their common submission of comments in response to the EBA’s public consultation on effective management of ML/TF risks when providing access to financial servics (EBA/CP/2022/13) on effective management of Money Laundering and Terrorist Financing (ML/TF) risks („de-risking“) when pro ...
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