Wolfsberg Group Adopts New Standards on Correspondent Banking and Payment Transparency

The Wolfsberg Group has published two new standards, the Correspondent Banking Due Diligence Questionnaire (CBDDQ) and the revised Payment Transparency Standards. The Wolfsberg Group was established in 2002 and comprises thirteen banks. Its objective is to develop frameworks and guidance for the management of financial crime risks. Both of the new standards are intended to support the work on de-risking in correspondent banking by the Financial Stability Board, the Financial Action Task Force and the Committee on Payments and Market Infrastructure. 

View the CBDDQ. 

View the revised Payment Transparency Standards.