New Statement on CTF from Wolfsberg Group

The latest Statement details the role of financial institutions (FI) in CTF efforts and the key controls which seek to mitigate and manage the risk of an FI being abused for terrorist financing.

The document highlights the importance for FIs to adopt a risk-based controls framework comprising of a risk-based approach, customer due diligence measures, and monitoring and screening processes.

Firms should read the Statement to identify any potential changes to their operations that may be required.

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