Skip to content

FAQs on Digital Assets published by the Wolfsberg Group

29 November 2024

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.
Back to news and insights Read next article