FAQs on Digital Assets published by the Wolfsberg Group
The Wolfsberg Group published a set of Frequently Asked Questions on Digital Assets, providing guidance for financial institutions on managing financial crime risks associated with digital assets.
Key highlights from the FAQs include:
Clarification of terminology related to digital assets, including definitions of cryptocurrencies, tokens, and distributed ledger technology (DLT);
Guidance on applying existing anti-money laundering (AML) and counter-terrorist financing (CTF) controls to digital asset activities;
Recommendations for due diligence processes when engaging with digital asset customers or counterparties.
💡 Financial institutions should review these FAQs to enhance their understanding of digital assets and strengthen their financial crime compliance frameworks accordingly.
Digital Assets
Digital Assets/Crypto
AML/CTF/CPF
Industry News
