Published in partnership with the Institute of International Finance (IIF), the response details the Group and IIF’s views on:
- Scenarios concerning beneficiaries that should be included in this FATF Guidance;
- Activities that may be included in the definition of trust administrations;
- Suggested approaches to identify, assess, and mitigate the ML/TF risks linked with different types of legal arrangements; and
- Further recommendations offered to the FATF for consideration.
Firms can view the Wolfsberg response to the now-closed consultation in advance of potential forthcoming changes to the FATF Recommendations and Guidance.