Banking

Implementation of the due diligence processes in terms of Correspondent Banking

On 27 June 2019, the Wolfsberg Group issued additional material to enhance the implementation of the due diligence processes in terms of Correspondent Banking.

These documents provide further guidance to the applicability of the Correspondent Banking Due Diligence Questionnaire (CBDDQ). The purpose of the CBDDQ and additional material is to further harmonise the regulatory standards in correspondent banking.

The published material can be used by the public sector whilst they work with banks, by countries looking to enhance their own financial crime compliance programs, as well as by banks and other financial institutions for their own training needs.

Further information can be found on https://www.wolfsberg-principles.com/cbddq-capacity-building-materials