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In financial regulation, a politically exposed person (PEP) is one who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence they may hold.
A Politically Exposed Person (PEP) is someone who, through their prominent position or influence, is more susceptible to being involved in bribery or corruption. Learn who or what could be a PEP, how to identify them, and why they pose a risk for financial crime compliance.
A politically exposed person (PEP) is an individual who is or has been entrusted with a prominent function. Many PEPs hold positions that can be abused for the purpose of laundering illicit funds or other predicate offences such as corruption or bribery.
May 16, 2024 · May 16, 2024. Understanding Politically Exposed Persons (PEPs) Have you ever heard of the term “politically exposed persons” (PEPs)? These are individuals who hold significant roles in government or government-related organizations. But what exactly does this mean, and why should we care?
Aug 9, 2017 · Learn how to validate PEP screening results, perform risk analysis and mitigation, and comply with regulatory mandates. This guide covers the definition, types, and risks of PEPs, and provides a case study and tips for due diligence.
Apr 15, 2024 · Learn what a PEP is, how to identify and monitor them, and how to apply enhanced due diligence measures. Find out the FATF guidance, the 4 quadrants of PEP risk, and the sources of PEP information.
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10. For the purpose of this guidance paper, the definitions set out in the Glossary to the FATF Recommendations apply.5 The FATF Glossary definition of politically exposed person is meant to have the same meaning as the term persons with prominent public functions (as used in UNCAC Article 52). 11.
