Business Crime: Dealing with Politically Exposed Persons (PEPs)
Dealing with politically exposed persons is already a hot potato and it is set to become hotter as financial institutions and regulators digest the recent report from the UK's Financial Services Authority. Nigel Morris-Cotterill, Head, The Anti Money Laundering Network, presents a timely seminar on the topic that is set to dominate the headlines - and regulatory visits - in the coming months.
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Politically Exposed Persons are those whose power and influence enable them to steal or otherwise obtain money that belongs to the public purse.
Laws and regulation relating to bribery and corruption are just a part of the overall package of responses as more and more countries realise that a global response is the only way to detect money obtained by bribery, corruption or plunder.
But the official definitions are inadequate, argues Morris-Cotterill, Head, The Anti Money Laundering Network, the ultimate holding company for ChiefOfficers.Net
In a series of seminars that kicked off in AsiaPac last week, Morris-Cotterill's tour now heads off to Dubai (31 July), Jersey (2nd August) and London (3rd August).
In the seminar, Morris-Cotterill challenges orthodoxies, raises thought provoking issues and discusses the ripple effect of an apparently narrow subject area.
"Other seminars focus on what is termed the "onboarding" process - that is the methods by which banks, securities houses and insurance companies - as well as others - take on new customers. That is basic stuff. The Anti Money Laundering Network's seminars go far beyond that - indeed, that basic stuff does not form a part of the one-day seminar now on tour."
Bookings for Dubai, Jersey and London close today. For more information see http://www.financialcrimeforum.com
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