The newsletter by Gibraltar Financial Services Commission is designed to offer guidance to regulated entities concerning the due diligence obligations associated with Politically Exposed Persons (PEPs), as well as their family members and close associates. The classification of individuals as PEPs acknowledges an elevated risk due to the potential influence and power they may wield while holding significant positions. These requirements are implemented as a preventive measure to safeguard financial institutions from being used as conduits for activities such as money laundering, terrorist financing, and proliferation financing.
The information provided in this document is a response to observations made by the AML/CFT Supervision team during their ongoing oversight activities.
The primary objective of this newsletter is to provide clarity and promote a consistent approach to complying with the PEP-related requirements outlined in the Prevention of Corruption Act (POCA).
Read full newsletter here.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}