Click here for search results
Politically exposed persons : preventive measures for the banking sector, Volume 1
Author:Greenberg, Theodore S.; Gray, Larissa; Schantz, Delphine; Gardner, Carolin; Latham, Michael; Country:World;
Date Stored:2010/04/27Document Date:2010/04/19
Document Type:PublicationSubTopics:Public Sector Corruption & Anticorruption Measures; Emerging Markets; Banks & Banking Reform; Corporate Law; E-Business
Major Sector:Public Administration, Law, and Justice; FinanceRel. Proj ID:1W-Selected Issue Policy Paper On Politically Exposed Persons (Pep -- -- P116779;
Region:The World RegionReport Number:54250
Sub Sectors:Central government administration; BankingCollection Title:Stolen Asset Recovery (StAR) initiative

Summary: The paper is focused on the banking sector, not on other financial and nonfinancial sectors vulnerable to the laundering of corrupt funds. These other sectors may find the recommendations and good practices provided in this paper relevant, but should analyze the findings of this paper in light of their particular circumstances and specific features. The paper includes a number of practical tools to help guide banks, regulators, and other public authorities. The paper is organized into four major parts: the remainder of this part (part one) sets out some of the main observations and trends in politically exposed person (PEPs) compliance and an analysis of the principal reasons for poor compliance and overall ineffectiveness of systems to detect and monitor PEPs. Part two focuses on the implementation of PEP measures by regulatory authorities and banks. Part three reviews the roles of the public authorities that are primarily involved in preventing abuse by corrupt PEPs. These authorities include the regulatory authority, which is responsible for providing guidance to banks and enforcing compliance, as well as the financial intelligence unit (FIU), which has a role in the context of suspicious transaction reports (STRs) on PEPs. Finally, part four considers some of the cross-cutting issues national cooperation, training, and resources that must be addressed by all stakeholders.

Official Documents
Official, scanned versions of documents (may include signatures, etc.)
File TypeDescriptionFile Size (mb)
PDF 126 pagesOfficial version*8.82 (approx.)
TextText version**
How To Order

See documents related to this project
* The official version is derived from scanning the final, paper copy of the document and is the official,
archived version including all signatures, charts, etc.
** The text version is the OCR text of the final scanned version and is not an accurate representation of the final text.
It is provided solely to benefit users with slow connectivity.

Permanent URL for this page: