Webinars are an easy way to stay informed on trending industry developments from the convenience of your own office. In everything from mobile banking technology to OFAC compliance, CSI’s experts provide insight into topics affecting our industry—and your business—most.
Understanding Politically Exposed Persons to Mitigate Your Financial Institution’s Risk
We often hear news stories about government officials who have been linked to some type of financial crime such as embezzlement, bribe-taking or corruption. No financial institution wants to assist in the movement of those ill-gotten gains. Since a politically exposed person (PEP) often has more opportunities than ordinary citizens to acquire assets through unlawful means, they are considered higher-risk customers for financial institutions. This webinar explores how current regulations define a PEP, recommendations for conducting enhanced due diligence (EDD) specifically tailored to your client’s PEP status, and available tools to help mitigate your organization’s risk.
During this webinar, you’ll learn how to:
- Define PEPs according to definitions within current federal regulations
- Understand the importance of screening for PEPs and other higher-risk customers
- Implement EDD requirements around PEPs and other higher-risk customers
- Leverage technology and tools that assist in mitigating risks associated with PEPs