What are the Wolfsberg Anti Money Laundering Principles?
The Wolfsberg Principles are a set of international AML standards developed by major banks to establish a baseline of customer due diligence, correspondent banking, sanctions screening and monitoring, etc. The Principles are not law, they help to set a floor and close gaps so you’re converging with industry practices that regulators will recognize and understand.
Major themes are risk‑based onboarding, beneficial‑ownership transparency, ongoing transaction monitoring with clear escalation, and governance including clear documentation of who decided what and why. A special focus is on correspondent relationships — nested activity, payable‑through risk, and weak foreign entity controls.
