Politically Exposed Persons (PEPs) – A Risk Based Approach – 29 April

While PEP status itself isn’t indicative of criminal behaviour, the heightened risk prompts subject persons to adopt stringent AML/CFT precautions. This webinar seeks to provide a pragmatic approach as to ‘when’ and ‘how’ to conduct appropriate levels of due diligence, while shedding light on the intricacies that make this process less than straightforward.

Instructed by: Elizabeth Sammut Borg. in: Uncategorized

Seminar Description

Overview: While PEP status itself isn’t indicative of criminal behaviour, the heightened risk prompts subject persons to adopt stringent AML/CFT precautions. This webinar seeks to provide a pragmatic approach as to ‘when’ and ‘how’ to conduct appropriate levels of due diligence, while shedding light on the intricacies that make this process less than straightforward.

Topics:

• Understanding the regulatory framework in relation to PEP
• Understanding the definition of a Politically Exposed Persons
• Defining family members of PEPs
• Defining close associates of PEPs
• Understanding the methods to adopt to define PEPs
• Adopting a risk-based approach when carrying out due diligence on PEPs – Enhanced due diligence measures for the above
• Ongoing monitoring of business relationships involving PEP

Target audience

• Subject Persons
• Compliance officers
• Client facing employees
• MLROs
• Monitoring Functions
• Directors of subject persons
• Compliance executives
• Students wishing to pursue a career in compliance

Why should members/non-members attend:

When dealing with Politically Exposed Persons, or ‘PEPs’,  subject persons are obliged to have in place procedures to be able to identify who qualifies as a PEP and how to treat such individuals. Such procedures may at times be tricky to implement, particularly when a risk-based approach is adopted. This seminar shall equip participants with the knowledge and skills of how a subject person shall perform various enhanced due diligence measures in line with the risks involved within a business relationship. Moreover, the webinar shall delve also into the latest developments in relation to regulation related to PEPs