Wolfsberg Group publishes its updated Country Risk FAQs, providing a comprehensive understanding of the implications of country risk in the context of AML/CTF measures, including CDD requirements

The updated document specifically highlights: Clearer delineation of country risk within the wider context of CDD and enhanced due diligence EDD; Criminal indicators, political and regulatory factors which should be considered when developing a methodology to evaluate country risk; Sanctions considerations and their impact in the context of AML/CTF country risk; The need for a strong governance enabling an unbiased approach towards country risk; Practical guidance combined with clear roles & responsibilities for financial institutions…