AML - Politically Exposed Persons



Course Outline

Introduction

PEPs are introduced in the context of the risk-based approach to Customer Due Diligence. The course covers the legal definition of PEPs and why they pose a unique risk. It then reviews four key stages in the client relationship: risk assessment, identification and verification, new client approval and periodic review and transaction monitoring.

Case Study

The case study, based on the relationship between a fictitious bank and its clients, develops as the course progresses and explores examines the check and reviews work to be undertaken at each key stages of the relationship.

Course test

The course ends with a 10 question multiple choice test that selects at random from a bank of 25.

Further Information

Format

SCORM 1.2 compliant. The course uses Adobe Flash and Trivantis Lectora.

Implementation

This course runs on any SCORM compliant LMS platform. Adobe Flash Player 8 plug-in (or later) must be installed in the web browser. JavaScript must also be enabled and all pop-up blockers disabled.

Course Overview

This course examines the potential risks from relationships with Politically Exposed Persons and considers the systems and controls which can be implemented to mitigate those risks.

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Details

Learning outcomes:

By the end of the course the learner will have a better understanding of:

  • who are Politically Exposed Persons (PEPs)
  • why they pose a heightened money laundering risk
  • how firms should manage and mitigate that risk.

These points are illustrated by a case study, which follows a bank's relationship with a PEP client.

Audience:

The examples and interactions are designed to be used by staff at all levels of a financial services firm.The course assumes that the learner is aware of the risks associated with money laundering and has some knowledge of anti-money laundering systems and controls.

Course duration:

Approximately 20 minutes.

Assessment:

The course includes a randomised question bank which can be tailored on request.


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