Founded in 2017, Beem is a free mobile payment app with over 1.5 million customers in Australia. It specializes in facilitating peer-to-peer transactions, storing loyalty cards, moving money between accounts, and enabling purchases. To date, Beem has processed over $1 […]
The State of Financial Crime 2024: Download our latest research
Major national elections occur every year – but 2024 is shaping up to be of particular significance. Three of the world’s largest economies – the United States, the United Kingdom, and India – are among those set to hold votes […]
From managing PEPs to regulating AI, the State of Financial Crime 2024 is packed with insights from our annual survey of 600 senior financial crime decision makers.
While politically exposed persons (PEPs) may transact with banks exactly the way typical clients do, regulators around the world expect firms to manage PEPs with a higher degree of scrutiny. This article will take a closer look at: Who can […]
This new guide aims takes a comprehensive and practical look at the PEP landscape and how firms should navigate it. We also draw on insights from ComplyAdvantage’s high-performing, proprietary PEP database to explore how PEP demographics vary in major economic centers.
In July 2023, the UK government called on the Financial Conduct Authority (FCA) to review its guidance on risk management for politically exposed persons (PEPs). As a result, the regulator has outlined the key areas it will examine in its […]
On March 17, 2023, the French Ministry of Economy introduced changes to the definition of politically exposed persons (PEPs) and, consequently, has expanded the scope of AML regulations. Although these modifications appear substantial, the adjustments made by the French government […]
Accurate and reliable information is the bedrock of effective politically exposed person (PEP) risk management, as misidentifications or omissions can have severe legal and reputational consequences. In this article, Madalina Morar, International Affairs Research Analyst at ComplyAdvantage, explains the company’s […]
Both industry regulators and the Financial Action Task Force (FATF) consider politically exposed persons (PEPs) to pose a higher risk of corruption and involvement in money laundering and/or terrorist financing. To effectively mitigate the potential risks posed by such activities, […]
The accuracy and reliability of data used in politically exposed person (PEP) screening are paramount to its effectiveness. High-quality data ensures relevant PEP profiles are identified accurately, minimizing false positives and negatives. It involves collecting comprehensive and up-to-date information from […]
The UK government has proposed new rules for banks requiring more transparency with account closures. Under the proposal, banks would be required to delay account closures by 90 days and provide a notice to customers explaining why their account is […]
Tune in as our expert panel shares key insights on identifying and screening PEPs effectively in today’s geopolitical climate.