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| A | The Politically Exposed People Database contains names of individuals including heads of state, cabinet members, members of parliament, highest members of the judiciary, national bank governors and members, political and religious leaders, military officials, senior executives of state of owned companies, ambassadors, former PEP’s and those closely associated to PEP’s such as family members.
In terms of AML, extra diligence is needed by the firm when dealing with people on this list (more details are in the JMLSG guidelines and also here: http://en.wikipedia.org/wiki/Politically_exposed_person#Politically_exposed_foreign_person_or_PEP_.28UK.29).
An AML applicant can be matched by name but may be no relation whatsoever, but is identified as a potential PEP anyway. |
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