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Enhanced customer due diligence and PEPs

After having discussed the simplified customer due diligence, I will take you to the other end of the scale: we’ll talk about enhanced customer due diligence and PEPs. Basically, what is a PEP ? We are talking about Politically Exposed Persons. This term generally refers to bearers of a political mandate. Article 3, 9° of…

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Anti-money laundering measures and simplified customer due diligence

When I am talking to an assembly of colleagues about the range of measures to be taken in the context of a Anti-Money Laundering / Combating the Financing of Terrorism (AML / CFT) policy, I am often confronted with suspicious bewilderment just until I am elaborating my reasoning and talking about simplified customer due diligence, which…

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Determine the customer’s source of funds

Among the topics covered at the recent European ACAMS conference in London, knowing how to determine the customer’s source of funds was considered as the most sensitive issue by the various speakers. A quick survey of the room revealed that 76% of the participants put this issue at the top of the list. Two different…

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