The new updated Wolfsberg Group Correspondent Banking Due Diligence Questionnaire (CBDDQ) V1.3 contains now 110 questions instead of the previous 28 questions, The Wolfsberg Group expects FIs to have adopted the CBDDQ V1.3 published on the Wolfsberg website on 17 April 2020 for FI use, by 1 January 2021, Questions from 80 to 85b, cover the “payment transparency” issue in a professional way, covering all international rules and legislations in respect of customers transfers, This training course is designed to explain in details the highly specialized technical requirements of questions from 80 to 85b.
.The requirements of FATF recommendation 16
.The Wolfsberg payment transparency standards.
.Article 10 of Saudi AML law 20
.The 11 interpretation points explaining article 10 of the Saudi AML law, stated in the Executive Regulations of the Saudi AML law no.20
.Section 14 of the new guidance for AML &CFT published Nov 2019 by SAMA
.Explain in details the requirements of questions from 80 to 85b as follows:
.A- The Wolfsberg Payment Transparency Standards
.B- FATF Recommendation 16:
.1- The 21 interpretation points
.2- Responding to Request for Information (RFIs) from other entities in a timely manner
.3- controls to support the inclusion of required and accurate originator information and the required beneficiary information in international payment messages
.C- Saudi Local Regulations:
.1- Article 10 of Saudi AML law 20
.2- The 11 interpretation points explaining article 10 of the new Saudi AML law, stated in the Executive Regulations of the Saudi AML law no.20
.3- Section 14 of the new guidance for AML &CFT published Nov 2019 by SAMA
.Compliance, AML and trade finance dept.
.None
.Training attendance certificate.