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Banks tread tricky tightrope with politically exposed clients

PEPsBanks tread tricky tightrope with politically exposed clients

The war of words between NatWest and erstwhile customer Nigel Farage has underscored the challenges global banks face in handling clients who could be defined as a politically exposed person, or PEP.

Banks are obliged to deny services to individuals subject to international sanctions or who are suspected of money-laundering or financing terrorists.

Story from reuters.com

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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