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2024 update to the Wolfsberg Group on Countering Terrorist Financing


In 2002, the Wolfsberg Group published a Statement on the Suppression of the Financing of Terrorism.

The document has now been revised and updated to reflect changes in Counter-Terrorist Financing (CTF) measures and the evolving nature of public-private cooperation.

In 2002, the Group published its first Statement on the Suppression of the Financing of Terrorism. Since then, both terrorism and global Counter-Terrorist Financing (CTF) measures have evolved to include:

  • Wider adoption of risk-based due diligence standards and practices.
  • Greater awareness of terrorist financing behaviours, risks, and typologies.
  • Streamlined reporting requirements enabling speedier escalation of cases of suspected terrorist financing.
  • Better technology to make detection scenarios more sophisticated; and
  • Improved collaboration and coordination through Public-Private Partnerships (PPPs) in many jurisdictions.

In many cases, this has led to more effective provision of information to law enforcement. However, terrorist finance also poses new challenges and considerations, including behaviours, risks and typologies that continue to evolve rapidly, and control implementation may have unintended consequences and reduced legitimate access to the financial system when risk-based approaches have not been carefully implemented.

For these reasons, the 2002 publication has been replaced by this document, which describes the role of financial institutions (FIs) in CTF and the key controls which seek to mitigate and manage the risk of an FI being abused for the financing of terrorism, as part of a risk-based financial crime compliance programme



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