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ARTICLE · 29 MARCH 2018

Financial Regulatory Developments Focus - Mar 28, 2018 Issue 12/2018

A&O Shearman
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On March 20, 2018, the Wolfsberg Group published a set of Frequently Asked Questions on financial crime country risk.

United StatesFinance and Banking
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AML/CTF, Sanctions and Insider Trading

Wolfsberg Group Issues Frequently Asked Questions on Country Risk

On March 20, 2018, the Wolfsberg Group published a set of Frequently Asked Questions on financial crime country risk. Country risk is the additional risk created by investing in, or lending cross border to, a foreign country in the context of credit facilities.

The FAQs cover: (i) the meaning of country risk in the context of financial crime compliance; (ii) the data sources that should be considered when developing a methodology to assess country risk; (iii) the frequency with which data sources should be refreshed; (iv) how sanctions should be considered in country risk methodologies; (v) the models or methodologies available to financial institutions to measure country risk, and how (and how frequently) financial institutions should test and validate their effectiveness; (vi) matters to be considered when purchasing and using an off-the-shelf commercial

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