![]() This would include foreign PEPs working or residing in Australia. Foreign PEP – someone who holds a prominent public position or role with a government body in a country other than Australia.Domestic PEP – someone who holds a prominent public position or role in an Australian government body.The AML/CTF Act identifies three types of PEPs. However, you should remember that being a PEP doesn’t automatically mean someone is involved in criminal activities.ĭownload the quick guide - Politically exposed persons (PDF, 333KB)Īs part of your AML/CTF program, you must outline how you identify PEPs and what steps you take when dealing with them. ![]() This is why it’s important to use AML/CTF measures to identify, mitigate and manage any such potential risks. This is not a complete list of PEPs.īecause PEPs hold positions of power and influence, they can be a target for corruption and bribery attempts, and ultimately for money laundering or terrorism financing activities. Examples of PEPs include heads of state, government ministers or equivalent politicians, senior government executives, high-ranking judges, high-ranking military officers, central bank governors, or board members or executives of an international organisation. PEPs often have power over government spending and budgets, procurement processes, development approvals and grants. Immediate family members and/or close associates of these individuals are also considered PEPs. ![]() Our commitment to diversity and inclusionĪ PEP is an individual who holds a prominent public position or role in a government body or international organisation, either in Australia or overseas.Review of the AUSTRAC industry contribution levy arrangements.Report on the statutory review of the AML/CTF Act and associated Rules and Regulations.Commonwealth Child Safe Framework - annual statement of compliance (2021).Statement of Expectations and Statement of Intent.AUSTRAC Audit and Risk Committee (ARC) Charter.Sample forms and languages other than English.Moving money across international borders.Agency request to access AUSTRAC information.Service providers to reporting entities.Explanatory statements relating to amendments to the AML/CTF Rules.Reporting Entity System Transformation (REST) Program.Request removal from AUSTRAC roll or registers.Preventing financial crime using a risk-based approach.Applying for exemptions and modifications.Preview questions in the AUSTRAC 2022 compliance report.Money transferred to and from overseas (IFTI).How to submit a threshold transaction report (TTR).Suspicious transactions identified by your transaction monitoring system.Employee training: AML/CTF risk awareness training program.Requirements for reliance on a case-by-case basis.Resolving issues with CDD arrangements and liability.Managing risk and assessing foreign jurisdictions for reliance.Reliance under customer due diligence arrangements.Reliance on customer identification procedures by a third party.Exceptions to verifying a customer before providing a designated service.How to comply with KYC requirements during the COVID-19 pandemic.High-risk countries, regions and groups.Reliable and independent documentation and electronic data.Identifying customers who don’t have conventional forms of ID.Customer identification and verification: easy reference guide.Customer identification and verification.Indicators of suspicious activity for pubs and clubs.Digital currency (cryptocurrency) overview.Indicators of suspicious activity for bullion dealers.
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