The Wolfsberg Questionnaire – what, why and how

De-risking in recent years has greatly affected correspondent banking relationships and international trade, and compliance has become one of the main impediments to this. Therefore, knowing how to complete proper due diligence is vital for local banks in order to foster their banking relationships and keep cross-border trade going.

In light of this, the EBRD and International Compliance Association (ICA) have developed a webinar on the Wolfsberg Questionnaire tailored to the needs of EBRD partner banks.

The Wolfsberg Questionnaire is a tool that correspondent banks use to assess the risk profile of their respondent institutions. It looks at the corporate profile of the respondent, its inherent risks, and the existence and scope of its financial crime compliance programme.

One-day training sessions were held on 16 and 17 June 2021 covering the theoretical basis of the Wolfsberg Questionnaire and providing advice on how to fill it in. They looked at why the Questionnaire is needed, what the key areas to consider are, anti-fraud strategies and risk assessments. The sessions finished with examples of completed questionnaires from financial institutions such as HSBC.

The webinars were recorded and you can view them here.

16 June (for Ukraine partner banks)
Wolfsberg Questionnaire webinar - EBRD - 16th June- Recording 1

17 June (for all partner banks across the economies where the EBRD invests)
TG - Wolfsberg Questionnaire webinar - EBRD - 17th June