Wolfsberg Group agrees foreign correspondent banking principles: The Wolfsberg Group has published a set of guidance principles on managing the risk of money laundering, terrorist financing and evasion of sanctions in foreign correspondent banking relationships. The principles also extend to those relationships where the client is an affiliate, subsidiary or branch of the bank offering correspondent banking services. Banks may also apply the principles to their relationships with non-financial institutions and to SWIFT-Relationship Management Application relationships. The Wolfsberg group has also made available an FAQ document and a Questionnaire aimed at helping correspondent banks carry out due diligence. (Source: Wolfsberg News - 18 February 2014)