C6 Intelligence – What is a PEP (PoliticallyExposed Person) ? By Paul Renner

C6 Intelligence bases the definition of a PEP (Politically Exposed Person) on the FATF version:

Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a foreigncountry, for example Heads of State or of government, senior politicians, senior government, judicial ormilitary officials, senior executives of state owned corporations, important political party officials.

Domestic PEPs are individuals who are or have been entrusted domestically with prominent publicfunctions, for example Heads of State or of government, senior politicians, senior government, judicial ormilitary officials, senior executives of state owned corporations, important political party officials.

Persons who are or have been entrusted with a prominent function by an international organisation refersto members of senior management, i.e. directors, deputy directors and members of the board orequivalent functions.

The definition of PEPs is not intended to cover middle ranking or more junior individuals in the foregoingcategories.

C6 Intelligence has set up in-house PEP Categorisation guidelines that serve as the researchframework for its analysts to follow consistently throughout their systematic research and ad hoc duediligence investigations.

While several categories have to be treated with discretion in certain contexts, the general guidelinesshould cover most governance systems spanning all jurisdictions in the world. In accordance with thedesignated risk levels, C6 Intelligence further categorises a PEP into different priority groups according tothe following infographic:

About C6 Intelligence Information Systems Limited

C6 Intelligence Information Systems Limited (“C6 Intelligence”, “C6”) is a leading provider of globalintelligence information on both individuals and companies through the C6 Database and bespokeresearch projects. C6 Intelligence provides Enhanced Due Diligence (EDD), Know Your Customer (KYC),and Anti-Money Laundering (AML) checks and solutions for companies worldwide, and has a presence inthe Americas, EMEA and APAC regions.

Tel: +44 (0) 1256 301510

Email: edd@c6-intelligence.com

Vita House, London Street

Basingstoke, RG21 7PG

United Kingdom

Website: www.c6-intelligence.com

Paul Renner is the co-founder of C6 Intelligence Information Systems which is used daily by banks,financial institutions, insurance companies, and regulators to take a risk-based approach to managingfraud, money laundering and staff compliance risks.

Paul Renner is also the co-author of ”Preventing Financial Instrument Fraud – The Money Launderer’sTool”, originally published by the ICC (International Chamber of Commerce) Commercial CrimeServices(CCS), now called the ICC Financial Investigation Bureau. The fraud models described withinthe publication has been referenced by the UK City of London Police and prosecution services, to supporttheir case and secure convictions against fraudsters.

The following page contains articles and references to Paul Renner C6 Intelligence

SOURCE: http://paulrenner.com/C6-Intelligence/C6-Intelligence-what-is-a-PEP-Politically-Exposed-Person-By-Paul-Renner-C6.html