Tag Archives: PEP

FINMA Credit Suisse FIFA Failings

On Sep. 17, FINMA announced Credit Suisse AML failure re FIFA. Announced the conclusion of two investigations into AML failings at Credit Suisse. Overview An investigation identified deficiencies in anti-money laundering due diligence, re suspected corruption involving FIFA, Petrobras, Petróleos de Venezuela (PDVSA). Second re significant business relationship with politically exposed person (PEP). Deficiencies in AML…
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FINTRAC Political Person FAQ

On May 11, FINTRAC issued FAQs on politically exposed persons. FAQs regarding identification, treatment of politically exposed persons in Canada. Including for the heads of international organizations, and their family members. Follows FINTRAC Dec. 2016 guidance on politically exposed persons. Overview Per legal requirements, Canadian financial institutions, life insurance providers, securities dealers and money services…
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