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