Join Refinitiv Perspectives LIVE host Trang as she speaks with Refinitiv’s Proposition Sales Director, Risk (ASIA Pacific), Michael Meadon, and Partner at Deloitte Southeast Asia, Radish Singh, about the factors beyond that of the politically exposed individual.
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While each country has their own criteria for Politically Exposed Persons, (PEP), overall they are people considered to be more susceptible to bribery, corruption or risk due to their position or influence. Many financial institutions have implemented PEP screening and Anti Money Laundering measures, but with so many varying criteria, risk levels and legislations, it’s important to understand the diverse layers and risks.
Refinitiv Perspectives LIVE: Understanding the Layers of Politically Exposed Persons
Join Refinitiv experts Trang Chu Minh and Michael Meadon, Proposition Sales Director for Risk (Asia Pacific), as they discuss the factors at play for a Politically Exposed Person along with the criteria for mitigating involved risks, answering these questions and more.
- A politically exposed person, or PEP, is defined by the Financial Action Task Force (FATF) as an individual who is or has been entrusted with a prominent public function. What are some of the key challenges / financial crime risks associated with doing business with PEPs?
- What are the practical steps to create a screening and risk assessment framework for PEPs? Is there such a thing as a “low-risk PEP”, or is that basically a contradiction in terms?
- What role does geographic or geopolitical risk play in this assessment?