This training program will explore the operational implications of dealing with heightened-risk categories such as PEP screening at the heels of the Panama Papers controversy. The program will also discuss the current changes in the marketplace and expose the new faces of AML and examine areas of PEP regulation that pose present and future challenges for regulated businesses.
It is not that PEPs are predisposed to committing financial crimes, but rather that their position, in relation to state funds and other ‘cookie jar’ opportunities, significantly heightens the risk that they may do something corrupt, fraudulent or otherwise illegal. In addition, it is seldom the primary officeholder that brings increased reputational risk; instead, it is with their associates, law firms, businesses partners and potentially shadowy middlemen that the real risk lies.
Why Should You Attend:
This webinar will explore the operational implications of dealing with this heightened-risk category. In principle, there is nothing wrong with doing business with a Politically Exposed Person (PEP), provided that a number of due diligence criteria are met on an ongoing basis. What differentiates PEPs from other categories of financial clients is their position within a country or similar public structure, or their association with a political officeholder.It is not that PEPs are predisposed to committing financial crimes, but rather that their position, in relation to state funds and other ‘cookie jar’ opportunities, significantly heightens the risk that they may do something corrupt, fraudulent or otherwise illegal. In addition, it is seldom the primary officeholder that brings increased reputational risk; instead, it is with their associates, law firms, businesses partners and potentially shadowy middlemen that the real risk lies.
Areas Covered in the Webinar:
In accordance with regulatory obligations, there are strict procedures in place to minimize the risk that could be used for money laundering purposes including:- BSA/AML Compliance Management
- Sanctions Screening/PEP Screening
- Knowing Your Customer (KYC)
- Beneficial Owners
- Proper Identification of Your Clients and Vendors
- How Digitization Has Changed Movement of Money
- AML Compliance and Digital Currencies
- Monitoring, Investigating and Reporting Suspicious Transactions
- Training Staff to Recognize Suspicious Transactions and to be Aware of Their Reporting Obligations
Who Will Benefit:
- Compliance Managers and Officers
- Risk Managers and Officers
- Controllers
- Presidents/Vice Presidents
- Managers/Supervisors
- Independent Sales Organizations
- CFOs and Presidents of Payment Service Providers
- Managers of Payment Service Providers
Course Provider
Armen Khachadourian,
