Anti-bribery and corruption oversight are traditional roles for anti-money laundering departments. However, it’s equally important to keep an eye on politically exposed people that may serve as accomplices in laundering illicit proceeds pilfered by unscrupulous government officials and other connected individuals.
In this webinar, drawing heavily from real-life cases, panelists will examine the role Politically Exposed Persons (PEPs) played in scandals such as the looting of Venezuela’s PDVSA, Malaysia’s 1MDB fund and the fallen political consultant Paul Manafort. Furthermore, the webinar will outline practical tips for assessing and managing the risks associated with banking PEPs. Then, the panel will explore red flags such as unexplained sources of wealth or frequent cross-border transfers serving no clear purpose.