---
title: New Principles for Financial Crime Risk Management Auditing
description: The Wolfsberg Group has published new principles for auditing a Financial Crime Risk Management programme for effectiveness
---

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# [New Principles for Financial Crime Risk Management Auditing](https://www.plenitudeconsulting.com/news-insights/new-principles-for-financial-crime-risk-management-auditing)

 Written by [Insight & Partnership Team](https://www.plenitudeconsulting.com/news-insights/author/insight-partnership-team) | Mar 26, 2024 10:02:00 AM

The programme has been published under the following three Wolfsberg Factors:

- Complying with financial crime laws and regulations;
- Establishing a reasonable and risk-based set of controls to mitigate the risks of a financial institution (FI) being used to facilitate illicit activity; and
- Providing highly useful information to relevant government agencies in defined priority areas.

The Principles have been developed between member banks’ second and third lines of defence, to provide FIs with a framework of measures which can be adopted to produce an effective Internal Audit.

Firms should review the Principles in implementing an effective Internal Audit.

[View full post](https://www.plenitudeconsulting.com/news-insights/new-principles-for-financial-crime-risk-management-auditing)

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