New screening and monitoring requirements for Politically Exposed Persons (PEPs) in Canada have recently been implemented. To remain compliant banks and payment processors will have to implement a much more wide-reaching AML regime than ever before. Financial institutions will have…
FATF definition of PEP (Politically Exposed Person)
A politically exposed person (PEP) is an individual who is or has been entrusted with a prominent public function. The best canonical definition of a PEP is provided by FATF. europos use the Financial Action Task Force (FATF) definition of…
Politically Exposed Persons: Who They Are and Why They Matter
In the world of finance, the phrase “politically exposed person|politically exposed persons”, otherwise known as PEP, is one that you will often see. The basic definition of this term is an individual who has a well-known public function, or an…