Past version: effective from 15/04/2019 - 02/02/2020
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22. The Wolfsberg Group is an association of thirteen global banks that has published guidance aimed at assisting financial institutions in managing money laundering risks (Wolfsberg Statement Guidance on a Risk Based Approach for Managing Money Laundering Risks, March 2006) and in preventing terrorist financing (Wolfsberg Statement on the Suppression of the Financing of Terrorism, January 2002). Banks operating in ADGM should be familiar with relevant Wolfberg Group published guidance in conjunction with the FATF Recommendations and in complying with these Rules.
23. In the event that any of the Wolfsberg Group published guidance conflict with a Rule in the AML Rulebook, the relevant Rule takes precedence.
|Added on (15 April, 2019).|