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Political corruption and the assessment of politically exposed persons

Heightened money laundering risks are posed globally by individuals who are considered to be Politically Exposed Persons (PEPs), but how can you best assess how relations with PEPs could impact your organisation?

This whitepaper is designed to clarify the due diligence obligations of financial institutions and other entities, challenging assumptions about PEPs and how they should be treated.

The whitepaper covers topics including:

- Examples of the mechanics and trends of political corruption

- How the Financial Action Task Force and UN Convention Against Corruption distinguish between PEPs and foreign public officials

- Ways in which the nature of political corruption differs country by country, and the importance of using a risk-based approach 

 

 

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