According to the FATF , Politically Exposed Persons are considered to be higher risk customers because of their status and influence. This can be used to commit money laundering offences and other predicate offences.
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The Author is an Attorney based in Trinidad. She specializes in Anti Money Laundering and Risk and Fraud Risk Management.
I have always been teased about the way I walk. I walk quickly, I pass people by on the sidewalks as though a dog is chasing me. I am oftentimes told that I would get a speeding ticket. I simply laugh at these jokes. In response, I say that I am “on a mission”. I could be n my way to class, on my way to the office or about to meet a friend, I walk with purpose.
Increasing your walking pace by 25% was one of the confidence building exercise in the Magic of Thinking Big . The author told of the games his mother played that consisted of watching passersby and observing their walking. His mother advised him that there was much to learn from observing the walking habits of people. The author said that psychologists link poor posture and sluggish walking to low self confidence. Psychologists also say that our attitudes can be changed by improving out posture and by increasing our speed of movement.
The author described 3 different groups of people based on their walking patterns. The first group are the “beaten people”, they “shuffle and stumble along through their life”. The second group of people are average and so is their walk, average. The last group of people exude “superconfidence” in the words of the author. These people walk faster than average, there is a sprint in the way they walk. Their walk tells the world “ I’ve got someplace important to go, something important to do”. Moreover, it tells the onlooker that the walker will succeed at anything he is about to do. The author advised that we should “throw our shoulders back, lift up our head and walk a little faster and feel confidence grow.
The Author i an attorney at law based in Trinidad. She specialises in Anti Money Laundering and Fraud Risk Management. See website http://asydneygroup.com
When was the last time that you opened a business account at a financial institution ?
You were required to produce a list of documents were you not? The banker may have asked you whether you are employed or a business owner.
If your response was an employee then the following are the required documents :
Two forms of Government issued,photo identification,must be valid ;
Job letter ,must not be dated more than 3 months ;
Payslip ,must not be dated more than 3 months ;
Proof of address ,e.g. utility bill ,must not be more than 3 months old .
If the utility bill is not in the name of the applicant ,an authorization letter ,signed by the person whose name appears on the bill . This person must also submit a copy of valid ,Government issued ,photo identification.
When your banker asks you for these documents ,please be reminded that this is in order to comply with Financial Regulations. Your banker will also present you with a number of forms for your review and signature .
The FIU is the primary institution for the collection of financial intelligence and information and the analysis, dissemination, and exchange of such financial intelligence this will also include information among law enforcement authorities, financial institution and listed businesses
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What does the FIU do?
1.Acts as an autonomous independent body to serve as a national centre for the collection, analysis and dissemination of financial intelligence and information.
2.The FIU functions as a specialised intelligence agency for the receipt and analysis of STRs/SARs) and the dissemination of financial intelligence and information.
3.FIU acts as a Supervisor to monitor specified Supervised Entities and enforce compliance of AML/CFT (AML/CFT) obligations.
4.The FIU does not engage in investigative action, which is conducted by the Law Enforcement Authorities (LEAs).
The Author is an attorney at law based in Trinidad. She specializes in Anti Money Laundering and Financial Crimes. She is also an Internationally Certified Fraud and Risk Management Professional.