Current Priorities

Wolfsberg Group Priorities

“The leading voice in banking, committed to combatting financial crime”

The Wolfsberg Group focuses on two core areas: 

  1. Producing Principles, Standards, FAQs and Guidance papers to promote best practices and improve effectiveness in the fight against financial crime 
  2. Promoting engagement between public and private sectors in combatting illicit financial activity

We set our objectives annually and refresh them as necessary. Our priority for 2020-21 remains the promotion of measures to improve the overall effectiveness of the financial crime compliance regime, our view of which is set out in the Statement on Effectiveness. 

The Group is working to:

  • Define the elements of an effective industry AML/CTF programme, highlighting how financial institutions can structure their regimes to optimise the detection or deterrence of illicit activity at both the tactical and strategic level.
  • Help the industry and public sector to take advantage of opportunities presented by technological innovation, both in financial crime risk management and product delivery. This includes:

Assessing how utilities such as Digital IDs can improve the efficiency and reliability of processes;

Responding to the growing digitisation of the industry by looking beyond traditional financial institutions to work with innovators in the FinTech space.

  • Build knowledge and programmes to enable a holistic approach to cyber-related criminality, recognising its intersection with fraud and money laundering.
  • Continue to actively partner with international standard setters, national law enforcement, supervisors, and regulators to find routes to achieving our shared goal - to prevent the misuse of the global financial system.



Back Office Consolidation
Controls for New Payment Methods
Credit Cards
DFS 504 Rule
Digital Identity
Future of Surveillance
Models & Methodologies
Negative News Best Practice
Retail Banking
RFI Benchmarking
Role of FCC professional
Source of Wealth/Source of Funds
Tax Transparency
Terrorist Financing and High Risk Charities
Trade Based Money Laundering
Vendor Procurement Due Diligence / ABC Control Framework