The Wolfsberg Group
Budget
€100 — €0
EP Access
0
accredited persons
Staff
3
0.45 FTE
EU Grants
None
Mission & Goals
The Wolfsberg Group is an association of 12 global banks which develops frameworks and guidance for the management of financial crime risks, particularly with respect to Know Your Customer, Anti-Money Laundering and Counter Terrorist Financing policies. The Group has been publishing standards, FAQs, and guidance on a range of financial crime compliance topics for over 20 years. These publications are used by the financial services industry worldwide and have been supported by the public sector and cited favourably by regulators. Topics covered have included standards on private banking, the risk-based approach, payment transparency, politically exposed persons, source of wealth/source of funds, anti-bribery and corruption, sanctions screening, risk management for customers who transact digitally, the monitoring of suspicious activity or auditing for effectiveness. The Group is also the publisher of the industry standard Correspondent Banking Due Diligence Questionnaire.
EU Legislative Interests
All initiatives relating to combatting financial crime, financial and economic sanctions, terrorist financing, and anti-bribery and corruption. AML Authority Regulatory Technical Standards, derisking, and the EU action plan on preventing money laundering and terrorism financing.
Communication Activities
Comment letters submitted to the EU, EBA, MEPs and DG FISMA
Interests Represented
Promotes their own interests or the collective interests of their members
Member Of
None
Organisation Members
Our members are listed on the landing page of our - website wolfsberg-group.org They are as follows: Banco Santander Bank of America Barclays Bank Citigroup Deutsche Bank Goldman Sachs HSBC JPMorgan Chase MUFG Société Générale Standard Chartered Bank UBS
Additional Information
The Wolfsberg Group has existed since 2000 but only became a legal entity in October 2021, and our bank account was not opened or funded until mid/late December 2021. The Group has been fully audited for 2022 as well as the few days of operation in 2021. A partial audit was undertaken in 2023 and 2024.
Commissioner Meetings
No recorded meetings with EU commissioners.