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Wolfsberg Group [WG] Country Risk Frequently Asked Questions


After a thorough exercise, the Wolfsberg Group [WG] has published its updated Country Risk Frequently Asked Questions (FAQs).

The revised FAQs provide a comprehensive understanding of the implications of country risk in the context of anti-money laundering (AML) and counter-terrorism financing (CTF) measures, including customer due diligence (CDD) requirements.

The updated document specifically highlights:

  1. Clearer delineation of country risk within the wider context of CDD and enhanced due diligence EDD;
  2. Criminal indicators, political and regulatory factors which should be considered when developing a methodology to evaluate country risk;
  3. Sanctions considerations and their impact in the context of AML/CTF country risk;
  4. The need for a strong governance enabling an unbiased approach towards country risk;
  5. Practical guidance combined with clear roles & responsibilities for financial institutions.

WG hopes the FAQs will play a pivotal role in the industry’s challenges in assessing and effectively mitigating country risk in the respective institutional AML/CFT frameworks.

Read the FAQs on WG website:


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