Users' questions

What is the Wolfsberg principle?

What is the Wolfsberg principle?

The Wolfsberg Principles are a non‐binding set of best practice guidelines governing the establishment and maintenance of relationships between private bankers and clients. The fact that the private sector has taken the initiative to establish the Wolfsberg Principles is therefore worthy of closer analysis.

How many Wolfsberg principles are there?

wolfsberg-principles.com. The Wolfsberg Group is an association of thirteen global banks which aims to develop frameworks and guidance for the management of financial crime risks.

What is Wolfsberg AML questionnaire?

The Wolfsberg Group, an association of eleven global banks, has established a template Anti-Money Laundering (AML) Questionnaire which aims to provide a standardised overview of a financial institution’s AML policies and practices.

Which banks are part of the Wolfsberg Group?

Current members are Banco Santander, Bank of Tokyo-Mitsubishi UFJ, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan Chase, Société Génerale, and UBS.

Who are the authors of the Wolfsberg Standards?

Please note that the original authors of the Wolfsberg Standards reserve the right to change or amend them at any time without the consent of any other party. Should you require further information about the Wolfsberg Group or any of the Wolfsberg Standards, click below. Sign up for updates straight to your inbox…

When did Wolfsberg Anti Money Laundering Principles come out?

The Principles were initially formulated in 2000 (and revised in 2002) to take into account certain perceived risks associated with private banking. Such risks continue to warrant appropriate levels of attention, no less today than ten years ago.

When was the Wolfsberg principles for private banking created?

Principles for other market segments may differ. The Principles were initially formulated in 2000 (and revised in 2002) to take into account certain perceived risks associated with private banking. Such risks continue to warrant appropriate levels of attention, no less today than ten years ago.

Who are the Wolfsberg Group and what do they do?

The Wolfsberg Group are delighted to publish a statement on “Effectiveness” as it relates to AML/CTF programmes. The Group has been discussing this topic internally and with various significant stakeholders, for a number of years and will continue to work collaboratively and within the parameters