Politically Exposed Persons (PEP)
Politically Exposed Persons: Individuals, or their relatives, who are prominent public functionaries.
Related Terms
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Correspondent Banking
A relationship entered into between a small bank and a big bank in which the big bank provides a number of deposit, lending, and other services.
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Know Your Business (KYB)
Know Your Business is the due diligence review of your business and industry which when reviewed against Money Laundering techniques allows you to develop policies and assess suspicious activities or transactions.
