The Wolfsberg Group has issued a number of documents since its inception aiming to:

The correct answer is D. provide financial institutions with an industry perspective on effective financial crime risk. The Wolfsberg Group is an association of thirteen global banks that aims to develop guidance and standards for the management of financial crime risks. The Group has issued a number of documents since its inception to provide financial institutions with an industry perspective…

Compliance Standards (International AML/CFT Standards and the role of FATF)

Question

Options

Aprovide a standardized process amongst its bank members for combatting money laundering and
Bprevent money laundering or terrorist financing by establishing consistent regulatory standards
Cprovide advice to regulators around the world on the due diligence requirements for politically
Dprovide financial institutions with an industry perspective on effective financial crime risk

How the community answered

(50 responses)

A
4% (2)
B
8% (4)
C
14% (7)
D
74% (37)

Explanation

The Wolfsberg Group is an association of thirteen global banks that aims to develop guidance and standards for the management of financial crime risks. The Group has issued a number of documents since its inception to provide financial institutions with an industry perspective on effective financial crime risk management.

Topics

#Wolfsberg Group#financial crime risk management#industry standards

Community Discussion

No community discussion yet for this question.

Full CAMS Practice