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The Wolfsberg Group

General Information

Identification Code: 744386148303-66
Website: [object Object]
Entity Form: Swiss Association
Registration Category: Trade and business associations
Registration Date: 12/6/2022
Last Update: 6/20/2024
EP Accredited Number: 0

Mission & Interests

Goals: The Wolfsberg Group is an association of 12 global banks which aims to develop 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, and the handling of negative media. The Group is also the publisher of the industry standard Correspondent Banking Due Diligence Questionnaire.
Interests Represented: Promotes their own interests or the collective interests of their members
Interests:
  • Banking and financial services
  • Digital economy and society
  • Fraud prevention
Levels of Interest:
  • global

Activities

Main EU Legislative Proposals: 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
Inter-institutional or Unofficial Groupings: N/A

Head Office

Address: c/o Steinenring 60
Post Code: 4501
City: 4051 Basel
Country: SWITZERLAND
Phone: [object Object]

EU Office

Address: c/o Steinenring 60
Post Code: 4501
City: 4051 Basel
Country: SWITZERLAND
Phone: [object Object]

Financial Data

New Organisation: false
Closed Year: [object Object]
Current Year: [object Object]
Complementary 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.

Membership Information

Members10 Percent: 2
Members25 Percent: 1
Members50 Percent: 0
Members75 Percent: 0
Members: 3
Members F T E: 0.44999998807907104
Info Members: The Wolfsberg Group Secretariat is a team of three people responsible for coordinating the activities of our 12 member banks. On average, one person will spend 25% of their time on EU-related activities and the other two will spend 10%.

Structure

Structure Type: Structure
Is Member Of: 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
Organisation Members: None