For compliance professionals and the programs they run, politically exposed persons are a big deal. PEPs trigger money laundering and corruption concerns and therefore attract enhanced due diligence. So, I always assumed PEPs are easy to identify.… Continue Reading
Posts Tagged: Enhanced Due Diligence
Millions of units of medical supplies and personal protective equipment (PPE) are flooding into the United States from China. Recently, a commercial aircraft delivered 80 tons of PPE and other medical supplies from Shanghai to New York, and there are now more than 20 flights scheduled to do the same.… Continue Reading
Roger Wilkins AO (Australia) FATF President 2014-2015The U.S. Treasury Department’s Financial Crimes Enforcement Network sets risk-based compliance obligations of U.S. financial institutions. FinCEN directs counter-measures against the countries with the highest risk and enhanced due diligence against others.… Continue Reading
The UK’s Financial Conduct Authority issued its second anti-money laundering annual report in July, emphasizing obligation to prevent financial crime and enhance AML systems and controls in specific ways.