Intensified economic globalisation has had positive and negative effects. It has left nation states struggling to deal with the negative fall-out. National regulation against abuses has, however, proven increasingly ineffective, especially since companies have the freedom to move their hazardous activities to under-regulated areas.

This paper examines how the Wolfsberg Anti-Money Laundering Principles came into being. It charts their subsequent development and also looks at what the Wolfsberg Group of banks may tackle in the future.