The Wolfsberg Group Publishes new Questionnaire on Correspondent Banking

The Wolfsberg Group has published a new Due Diligence Questionnaire on Correspondent Banking as a primary initiative to help address the decline of Correspondent Banking Relationships. Prior to this, there was no standardized format for information required in maintenance of Correspondent Banking Relationships.

According to Wolfsburg, the new form will aim to set an enhanced standard for Correspondent Banking Due Diligence and reduce additional data requirements to a minimum. This standardized document should result in a less tedious and costly due diligence process for Correspondent Banks and provide a standard for all financial institutions to work towards achieving.

Press Release      Questionnaire

The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

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