EU: New Guide to Identifying PEP Status
Nov 10, - The European Union has released a detailed guide aimed at enhancing the procedures for identifying individuals with PEP (Politically Exposed Persons) status, a crucial element in combating financial crimes and money laundering. This document includes a comprehensive list of significant public positions within EU member states and its institutions, facilitating the work of compliance specialists responsible for detecting and monitoring the activities of individuals with PEP status. This information aids in identifying potential risks associated with money laundering, sanction evasion, and other financial violations.
Key provisions of the guide include: a complete list of public positions in EU member states, details about public positions in EU institutions, and clarifications on the definition of the term “Public Figure” in various contexts.