Video on PEP and Required AML Measures under IFSCA, AML, CFT, and KYC Guidelines

A PEP or politically exposed person is the one who holds prominent public positions and influences the functioning of the country.

PEP has power and influence over public funds and government’s decision making. Because of this, the business’s risk of getting exposed to financial crime increases. To curb PEP risks, IFSCA guidelines, 2022, has introduced specific measures, which we will discuss in this video.

First, the video explains how to identify whether the person is PEP.

Then, you’ll come across stringent checks and EDD measures to assess the ML/FT that PEP customers may pose to the business. We also covered how you can adequately manage the risk.

The measures explained in the video are not only applied to PEPs but also to their families and associates.

By going through this video, you’ll get support for formulating robust internal policies, procedures, and controls, ensuring that PEP-related financial crime attempts must not go undetected.

Chapters:

0:00 Introduction on Understanding PEP and Required AML Measures?
0:41 What is PEP?
1:28 When to determine the PEP status?
1:53 What are the additional measures to be applied for PEP?
3:15 Conclusion and regards

AML Measures when Dealing with High-Risk Customers under IFSCA AML Guidelines

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Video on PEP and Required AML Measures under IFSCA, AML, CFT, and KYC Guidelines