Video on Politically Exposed Person (PEP) and PEP screening requirements in UAE
Video on Politically Exposed Person (PEP) and PEP screening requirements in UAE
This video will help you grasp the essential concepts around:
- Who the politically exposed person is, the Definition of PEP
- Who is covered within the definition of PEP, including the person himself and his associates
- What action you should take once you know someone is a PEP or associated with a PEP
- How to deal with domestic PEPs, foreign PEPs, and heads of international organizations.
- Why PEPs are treated as high-risk customers
- What are the deciding factors to conclude that a PEP carries high-risk
- How to manage ML/TF risks around PEPs
- What are the requirements for carrying out Enhanced Due Diligence (EDD) when working with Politically Exposed Persons
- Ongoing monitoring of transactions with PEPs
Chapters:
- 0:00 PEP Introduction
- 0:25 Who is PEP?
- 0:44 associated PEP
- 0:54 3 categories of PEP
- 1:06 Domestic PEP
- 1:12 Foreign PEP
- 1:18 Head of International Organization
- 1:29 High risk
- 1:38 Factors considered while determining PEP
- 2:11 MLFT Risk with associated PEP
- 2:34 KYC & EDD
- 2:41 Treated as High risk
- 3:15 Regarding PEP
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