The Financial Action Task Force—FATF—stated in 2013 that politically exposed persons, due to the power they hold and the influence they enjoy, are in positions that could potentially be abused for purposes of money laundering, corruption, or activities aimed at financing terrorism. Consequently, FATF recommended that additional preventive measures should be applied to these individuals.
Continue reading “Politically exposed persons, who are they?”Mexico and its definition of PEP
The concept of a person with public responsibility is an institution commonly spread across the globe. This is due to intergovernmental cooperation led by the FATF and the inclusion of PEPs in its Recommendations.
Continue reading “Mexico and its definition of PEP”