The Importance of Why Firms Dealing with PEPs Must Adopt a Risk-Based Approach to Their Compliance Programmes

13 Pages Posted: 27 Apr 2015 Last revised: 28 Jul 2015

See all articles by Ehi Esoimeme

Ehi Esoimeme

University of Wales System - Cardiff Law School

Date Written: October 10, 2013

Abstract

Purpose – The purpose of this paper is to discuss the importance of why firms must adopt a risk-based approach to their compliance programmes.

Design/methodology/approach – This paper relies mainly on primary and secondary data drawn from the public domain. It also relies on documentary research.

Findings – A risked based approach has proved to be advantageous in helping firms reduce the risk(s) posed by PEPs.

Research limitations/implications – This paper discusses the importance of the risk-based approach in relation to Politically Exposed Persons. It does not deal with other high risk customers.

Keywords: Risk-Based Approach, PEPs, Customer Due Diligence, Enhanced Due Diligence, Senior Management Approval, Enhanced On Going Monitoring

Suggested Citation

Esoimeme, Ehi, The Importance of Why Firms Dealing with PEPs Must Adopt a Risk-Based Approach to Their Compliance Programmes (October 10, 2013). Available at SSRN: https://ssrn.com/abstract=2430972 or http://dx.doi.org/10.2139/ssrn.2430972

Ehi Esoimeme (Contact Author)

University of Wales System - Cardiff Law School ( email )

PO Box 427
Cardiff, Wales CF10 3AX
United Kingdom

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