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Wolfsberg Group Updates Guidance on Swift RMA Due Diligence

12 January 2024
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Wolfsberg Group Updates Guidance on Swift RMA Due Diligence

The Wolfsberg Group has updated its guidance on Swift Relationship Management Application (RMA) Due Diligence.

The guidance covers:

  • Core principles for financial institutions;
  • The definition of a Non-Customer RMA Relationship;
  • Minimum Due-Diligence Procedures for Non-Customer RMAs; and
  • Suggested Procedures for Ongoing Management of RMAs.

Firms should use the guidance to manage non-customer RMAs and should view it as a supplement to the Wolfsberg Financial Crime Principles for Correspondent Banking issued in 2022.
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