The Wolfsberg Group is an association of thirteen global banks that aims to develop frameworks and guidance for managing financial crime risks, particularly concerning Know Your Customer, Anti-Money Laundering and Counter-Terrorist Financing policies.
The Group came together in 2000, at the Château Wolfsberg in north-eastern Switzerland, in the company of representatives from Transparency International, to draft anti-money laundering guidelines for private banking. The Wolfsberg Anti-Money Laundering (AML) Principles for Private Banking were published in October 2000, revised in May 2002 and most recently in June 2012. Materials published by the Wolfsberg Group are designed to provide financial institutions with an industry perspective on effective financial crime risk management.
