Challenges in dealing with politically exposed persons

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PDFChallenges in dealing with politically exposed persons
Image: SeeMidTN.com (aka Brent) / flickr

26 February 2010Politically exposed persons (PEPs) are individuals entrusted with prominent public functions, such as senior politicians and public servants and are potential targets for bribes due to their prominent positions in public life and access to government, supranational or aid funds. To combat money laundering risks posed by PEPs, there is a need for ongoing monitoring of risks by regulated entities under the guidelines of bodies like the Financial Action Task Force. This paper outlines some of the key challenges and policy implications related to dealing with PEPs and risks when entering into financial transactions and business relationships with them.

Image: 'Misfortune Cookie!', SeeMidTN.com (aka Brent) / flickr

Publication typeReport
Publisher TypeAPO Member, Government or Gov agency
CoverageAustralia
Permanent URLhttp://apo.org.au/node/20546
Views1813

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