CBDDQ Capacity Building Materials

The Wolfsberg Group is pleased to publish a series of materials supporting the implementation of the Correspondent Banking Due Diligence Questionnaire (CBDDQ). The CBDDQ was launched in 2018 as a significant update to the original Wolfsberg AML Questionnaire covering the major aspects of banks’ financial crime programmes (AML, ABC and Sanctions) and is designed to be an enhanced and reasonable standard for cross-border and/or other higher risk Correspondent Banking Due Diligence, reducing to a minimum any additional data requirements, as per the Wolfsberg definition and current FATF Guidance.

These materials have been designed to aid ‘capacity building’ in the industry and support the objectives of the G20 and other supranational organisations towards a well supervised and more harmonised regulatory standard in the correspondent banking space. Wolfsberg expects that these materials will be very useful to public sector entities as they work with banks and countries looking to enhance their own financial crime compliance programs as well as to banks and other financial institutions for their own training needs.

The new Wolfsberg capacity building materials include:

·         A short video giving an overview of the CBDDQ and its development and purpose

·         A series of 12 videos covering each section of the CBDDQ individually and which are intended for high level training and awareness for banks, supervisors and other public sector bodies

·         A detailed review of the majority of the questions in the CBDDQ highlighting the risks and considerations that the questions are designed to identify as well as setting out clear expectations for the communication between Correspondent and Respondent.

The new tools should be used in combination with the CBDDQ itself as well as previously published Completion Guidance and FAQs document.

 

 An Introduction to the CBDDQ

Introductory Video 

 

Guidance Document 

CBDDQ Guidance Document 

 

Webex Training Sessions

CBDDQ Section 1: Entity and Ownership                        

 CBDDQ Section 2: Products and Services  

 CBDDQ Section 3: AML, CTF & Sanctions Programme  

CBDDQ Section 4: Anti Bribery & Corruption  

 CBDDQ Section 5: Policies and Procedures                             

 CBDDQ Section 6: AML, CTF & Sanctions Risk Assessment         

CBDDQ Section 7: KYC, CDD and EDD                                   

 CBDDQ Section 8: Monitoring and Reporting  

 CBDDQ Section 9: Payment Transparency                               

CBDDQ Section 10: Sanctions                

 CBDDQ Section 11: Training and Education                             

 CBDDQ Sections 12-13: Quality Assurance/Compliance Testing               

 
 

 

Back Office Consolidation
CBDDQ
Controls for New Payment Methods
Credit Cards
DFS 504 Rule
Digital Identity
Effectiveness
FinTech/RegTech
Future of Surveillance
Models & Methodologies
Negative News Best Practice
Retail Banking
RFI Benchmarking
Role of FCC professional
Sanctions
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