What does PEP mean? AML Compliance Consultants

PEP is an acronym for Politically Exposed Person. The FATF Recommendations require the application of additional CDD to business relationship with PEPs due to the potential risk associated with PEPs.

This does not only refer to politicians but there are different categories of PEPs:

Category 1Foreign PEP;

Category2- Domestic PEP;

Category #3 -International Organizations;

Category #4-Immediate Family Category # 5- Close associate

The author is the first Online Lawyer  based in Trinidad and Tobago. She specialises in Anti-Money Laundering Compliance.

She is a Certified Professional in the following areas:

Anti-Money Laundering and Financial Crimes;

Taxation;

Corporate Training;

Fraud Risk Management;

Graphic Design.

Whats app 868 373-1166 for quotation

Website: http://asydneygroup.com

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What is CFT? :Countering the Financing of Terrorism:AML Compliance Consultants

What is Terrorism?
Terrorism is the calculated, premeditated use of unlawful violence to cause panic or advance a political, religious, ideological cause.

Financing of Terrorism
Funding of terrorism involves providing funds from both legal (personal donations and profits from businesses and charitable organizations ) and or illegal sources (the drug trade, the smuggling of weapons and other goods, fraud, kidnapping and extortion), directly or indirectly or knowing that the monies are to be used to finance terrorism activity or organizations according to FINTRAC.

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Terrorism is financed in order to:
Promote militant ideology;
Purchase food for recruits;
Purchase weapons;
Pay operatives;
Arrange for travel;
Train new recruits;
Forge documents;
Pay bribes;
Acquire land;
Stage attacks.

How to proceed when it is discovered that a potential or existing customer is a terrorist ?
As soon as a financial institution or listed business receives the list of designated entities or the consolidated list referred to in section 22AA(2)(c) or (e), the following procedures shall apply:
(a) the financial institution shall immediately inform the FIU on the prescribed form, if any person or entity named on either list has funds with the financial institution or listed business;
(b) if the financial institution or listed business has reasonable grounds to believe that a person or entity named on either list has funds in Trinidad and Tobago, it shall immediately inform the FIU on the prescribed form;
(c) (Deleted by Act No. 14 of 2012); and
(d) if a person or entity named on that list attempts to enter into a transaction or continue a business relationship, the financial institution or listed business shall submit a suspicious activity report to the FIU immediately and shall not enter into or continue a business transaction or business relationship with such person or entity.

The law requires that the transaction and by extension, the business relationship be brought to an end and a Suspicious Activity/Transaction Reported be submitted by the Compliance Officer to the FIU.

See
Anti Terrorism Act of Trinidad and Tobago,PART III FINANCING OF TERRORISM 22AB

The author is an attorney at law in Trinidad. She specialises in Anti Money Laundering and Financial Crimes. Website http://asydneygroup.com

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Why are PEPS considered high risk customers ?AML Compliance Consultants

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.

Website : http://asydneygroup.com

Whatsapp 868 373-1166 for a quotation.

Services include:

AML Training;

AML Audits;

AML Compliance Programs;

Consulting Services.

#risk #pep #expert #anroinettesydney

What are the different categories of PEPS?AML Compliance Consultants

The following categories of PEPS are listed in Regulation 20 of the Financial Obligations Regulations (FORS).

Foreign PEPS;

Domestic PEPS;

International Organisation PEPs;

Immediate Family Members of the PEPS;

Close Associates of PEPS both professionally and personally.

For further details check out my Youtube video for free FIU Training.

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The author is an Attorney at Law based in Trinidad. She specialises in Anti Money Laundering and Fraud Risk Management.

Website : http://asydneygroup.com

#peps #fiutraining #trinidad #sydneygroup #sydneygroup.com #antoinettesydney

What are PEPS? AML Compliance Consultants

PEPS- refers to Politically Exposed Persons.

These are persons entrusted with a prominent public function. There are various categories of PEPS such as foreign PEPs, domestic PEPs and International Organization PEPs.

According to FATF these PEPS are deemed to be higher risk customers because they can use their status and influence to commit money laundering offences and other predicate offences.

This week on my Youtube Channel I explore the following topics:

What are PEPS;

What are the various Categories of PEPS?

Why are PEPS deemed to be higher risk customers?

How to conduct EDD on PEPS?

100 % Free AML/FIU Training on my Youtube channel. Please Subscribe.

The Author is an attorney at law based in Trinidad. She specialises in AML and Fraud and Risk Management.

Website http://asydneygroup.com

For a quotation, call or whatsapp 868 373-1166

AML Training;

AML Audits;

AML Consulting;

Compliance Program

#peps #amltraining #fiutraining #antoinettesydney #attorneyatlaw #pep #expert #amlcompliance #consultant #trinidadonlinelawyer #fiu #aml #antoinette #sydney

What does the way you walk say about you?

I have always been teased about the way I walk. I walk quickly, I pass people by on the sidewalks as though a dog I 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 on 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 exercises in the Magic of Thinking Big . The author told of the games his mother played that consisted of watching passersby and observing their walking habits. 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 our 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 is an Attorney at Law in Trinidad and Tobago. She is an internationally Certified Specialist in Anti Money Laundering, Countering the Financing of Terrorism Compliance. See the website http://asydneygroup.com for her portfolio of companies. Instagram @asydneygrouptt Whats app 868 484-7778 .