Prompted by recent legal and regulatory developments – such as the US Foreign Corrupt Practices Act and the UK Bribery Act - and the increased scrutiny on firms following the financial crisis, the Wolfsberg Group, a collection of 11 of the world's biggest banking groups, has recently updated its anti-corruption guidance.

The guidance is designed to support financial institutions in developing appropriate anti-corruption programmes and helping them combat and mitigate bribery risks associated with clients and external transactions as well as minimising internal risks.

A copy of the guidance can be found here.