Wolfsberg Principles publishes revised guidance on Swift Relationship Management Application (RMA) due diligence

Changes have been made to keep pace with technical changes occurring as the industry moves to the ISO20022 standard (specifically the fact that, unlike MT messages, the new “MX” messages must all be signed and will therefore all require an RMA). The updated Guidance also provides a clearer, more risk-based approach to RMA due diligence.