Politically exposed persons (PEPs)

Individuals suspected in connection with money laundering and counterterrorism, as well as their family and trusted associates. A guidance document published in June 2013 by the Financial Action Task Force on Money Laundering (FATF), which provides detailed instructions regarding institutions’ due diligence obligations, also lists characteristics on how to determine a customer’s PEP status. – See banknote value restriction, address spoofing, cash control, observation note, domicile concealment, drug money, Financial Intelligence Unit, financial fugitive, money transfer regulation, vulnerability analysis, money, dirty, money transfer intermediary, identity theft, account, false, account disclosure, account freeze, customer data information requirement, London system, registration money, auctioneer, secondary ID. – Cf. BaFin Annual Report 2013, p. 56 f. (Legal developments in the EU).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
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