2002/09/19
The Wolfsberg Group principles
The Wolfsberg Group is an association of eleven global banks, which aims to develop financial services industry standards, and related products, for Know Your Customer, Anti-Money Laundering and Counter Terrorist Financing policies.
The Group came together in 2000, at the Château Wolfsberg in north-eastern Switzerland, in the company of representatives from Transparency International, Professor Mark Pieth and Dr Hans-Peter Bauer, at the time founders of the Wolfsberg Group, and both board members of the Basel Institute on Governance, to work on drafting anti-money laundering guidelines for private banking. The Wolfsberg Anti-Money Laundering Principles for Private Banking were subsequently published in 2000 and revised in 2002.