14th October 2019
RCAs: Relatives And Close Associates
What AreRelatives And Close Associates?
What are Relatives and Close Associates (RCAs)?
Relatives and Close Associates sometimes referred to as ‘PEPs by association’ are a type of politically exposed person who shares a family or friendship connection to a PEP. As outlined in FATF guidance, that connection may be a direct family relation or a connection through marriage (or civil partnership). Alternatively, it may be a social or professional association. The list of people who may qualify as RCAs includes:
- Spouses and partners
- Uncles, aunts, cousins
- Spouses/parents of children
- Close friends
- Legal advisors
- Business associates
RCAs may also be joint beneficial owners of an entity in which a PEP has an interest, or may be the sole beneficial owners of an entity set up for the benefit of a PEP.