Politically exposed persons (PEPs) are individuals who are, or have been, entrusted with prominent public functions. PEPs are potential targets for bribes due to their prominent positions in public life and may present a higher risk for involvement in corruption due to their access to state accounts and funds. To combat money laundering and terrorist financing risks posed by PEPs, regulated entities are obligated to monitor such risks on an ongoing basis. Financial institutions (such as banks, insurance companies, investment dealers, and real estate brokers) are required to exercise particular caution when dealing with not only PEPs, but also their children, other family members, and ‘close associates’. Lindeborg assists PEPs and ‘close associates’ in dealing with the hurdles they face as a result of these initiatives. We assist these clients not only with INTERPOL applications, but also by managing their case strategy in various domestic jurisdictions.
