FinCrimeTV - Basics - What is a politically exposed person?
On the face of it, the politically exposed persons regime created by the FInancial Action Task Force and applied by almost all countries and jurisdictions around the world is quite simple: if a person is in a position to accept a benefit in return for political influence, then financial instittions should take special care as to the source and use of assets.
But it is far from simple. The FATF created a mass of loopholes and individual jurisdictions have added more.
This analysis describes the intention and gives an overview of the result. It's not pretty.
This programme provides background to the series Chin Wags with The Old Codgers' Club that debates issues surrounding the Politically Exposed Persons regime,