Politically Exposed Person Check

With a list of key individuals within your counterparty, a Politically Exposed Persons Check can be done to ensure that they are not included in any databases containing PEPs. To comply with Anti-Money Laundering AML regulation (specifically a Financial Action Task Force (FATF) recommendation), it is a legal requirement to ask about PEPs, so most KYC questionnaires will explicitly ask their counterparties if they have any senior officers who are PEPs or who are related to a PEP. This can also be known as a PEP Screening.


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