Financial Conduct Authority’s Guidance on PEPs and Money Laundering

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Financial Conduct Authority’s Guidance on PEPs and Money Laundering

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The UK’s Financial Conduct Authority (FCA) has published guidance on how financial services firms should treat Politically Exposed Persons (PEPs) while meeting their legal Anti-Money Laundering (AML) requirements. It advises companies on what constitutes a PEP, why PEPs can pose a risk of money laundering, and how companies should manage this risk.

  • What’s in a name?
  • Not all PEPs are equal
  • A ‘case by case’ approach to PEPs
  • What should companies do?

 

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