Wolfsberg Group publishes revised paper on AML screening, monitoring and searching – On 10 November 2009, the Wolfsberg Group (Group) published a revised paper, dated 9 November 2009, on how financial institutions can develop suitable anti-money laundering (AML) screening, monitoring and searching processes and procedures (paper).

The paper was originally published in September 2003. The Group considered that it was appropriate to revise the paper to reflect the developments and operational experience since that time, such as the use of automated transaction monitoring systems and the introduction of the risk-based approach. The revised paper provides more guidance on the design, implementation and ongoing maintenance of transaction monitoring frameworks.
read more – http://www.wolfsberg-principles.com/pdf/Wolfsberg_Monitoring_Screening_Searching_Paper-Nov_9_2009.pdf