Politically Exposed Persons (PEP)
Politically Exposed Persons: Individuals, or their relatives, who are prominent public functionaries.
Related Terms
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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.
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Office of Foreign Assets Control (OFAC)
Office of Foreign Assets Control. A US regulatory Agency that is responsible for monitoring funds held or transferred to illegal entities. The OFAC list is a list of companies/individuals that should be prevented from sending/receiving...
