Enhancing Transparency in Payment Services: The Wolfsberg Group Payment Transparency Standards

The global financial landscape relies heavily on the efficiency and security of payment services. Payment Service Providers (PSPs) play a pivotal role in facilitating these transactions, making it imperative that they adhere to stringent standards for transparency. To maintain the integrity of the financial system and combat illicit financial activities, The Wolfsberg Group has introduced The Payment Transparency Standards, a guide which provides an in-depth look at these standards and the responsibilities of different categories of PSPs.

Read more about the responsibilities of PSPs, payment transparency challenges, ongoing compliance and future considerations, conclusions, and how Deloitte can help.