This video will help you grasp the essential concepts around:
- Who the politically exposed person is, the Definition of PEP
- Who is covered within the definition of PEP, including the person himself and his associates
- What action you should take once you know someone is a PEP or associated with a PEP
- How to deal with domestic PEPs, foreign PEPs, and heads of international organizations.
- Why PEPs are treated as high-risk customers
- What are the deciding factors to conclude that a PEP carries high-risk
- How to manage ML/TF risks around PEPs
- What are the requirements for carrying out Enhanced Due Diligence (EDD) when working with Politically Exposed Persons
- Ongoing monitoring of transactions with PEPs
Access video here: