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AB&C Compliance Programme Guidance Updated

17 April 2023
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AB&C Compliance Programme Guidance Updated

The Wolfsberg Group has published updated Anti-Bribery and Corruption (AB&C) Compliance Programme Guidance, helping to promote a culture of ethical business practices and compliance with AB&C legal and regulatory requirements.

Developed alongside the Basel Institute on Governance and with input from Transparency International, the Guidance highlights the importance of taking a risk-based approach when developing and implementing AB&C programmes.

The Group provides guidance on measures which firms may wish to adopt, including:

  • Elements of an effective AB&C programme;
  • Governance;
  • Firm-wide policy;
  • Third-Party providers;
  • Principal investments & controlled fund acquisitions / joint ventures;
  • Anything of value;
  • Risk assessment;
  • Training and awareness;
  • Monitoring and testing for compliance with controls; and
  • Customer-related corruption risks.
  • The guidance also provides examples of corruption red flags in the document annex.

Firms should read the updated guidance document and take appropriate actions, as required.
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