Bribery and corruption are among society's biggest problems. This webinar will explore how to mitigate PEP risks and implement an effective PEP due diligence framework.
In 2018, the United Nations estimated that over US$1 trillion is paid annually in bribes, and another $2.6 trillion public funds are stolen. The money from these illegal activities is typically laundered and as a result, preventative measures related to politically exposed persons (PEPs) is a key requirement of anti-money laundering legislation and guidance worldwide.
The real challenge, however, is practical:
How do you design, implement and operate a set of policies and procedures to conduct due diligence on PEPs at scale?
How do you do this affordably, and without undue impact of legitimate business?
And what are the typical pitfalls of PEP due diligence?
Listen to our expert-led complimentary webinar to gain insights into the challenges, solutions and recommendations to mitigate PEP risks. In the webinar, we covered:
- The requirements – FATF R12 and implementing legislation
- Who is a PEP anyway?
- Methods of PEP identification, what role does KYC, screening and transaction monitoring play?
- Designing an effective screening programme
- What does a robust enhanced due diligence and monitoring process look like?