Jump to content

Once a PEP remains a PEP forever?


Recommended Posts

A PEP is an individual with a prominent public role in a government body or international organisation.

A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence that they may hold. Immediate family members and close associates of the PEP are also PEPs. What happens when PEPs retire?

In the UK they are de-PEPped after being out of power for a year, while in Guernsey and some other places, they remain a PEP forever. And because the PEP definition includes grandchildren, strictly speaking they should be considered PEPs forever too. In theory, money stolen or accepted in bribes by a corrupt PEP remains dirty forever – even when bequeathed to his heirs. So perhaps it makes sense to consider PEPs and the next two generations to be high risk and subject to enhanced due diligence forever.

➡️ Read our article to learn more!!

https://www.kycbench.com/once-a-pep-remains-a-pep-forever/

Join our Telegram Groups:

https://t.me/kycbench (KYCBench Announcement)

https://t.me/KYCBenchOFFICIAL (KYCBench Community)

KYCbench, your reliable KYC partner

www.kycbench.com

GDPR & ISO/IEC 27001:2013 compliant

kycbench-article-pep-min.png

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • 👍 Join TopGold.Forum Now

    The Most Welcoming & Trustworthy Earning Online Community

    Join over 25,000 members and 700 businesses on their journey to strike GOLD. 💰🍾👍

    👩 Want to make money online? 
    💼 Represent a company? 

⤴️-Paid Ad- TGF approve this banner. Add your banner here.🔥

×
×
  • Create New...