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Political Exposed Person Definition Quiz

15 Questions

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Political Exposed Person Definition Quiz

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Questions and Answers

What is the purpose of including family members in the definition of a PEP?

To exclude potential money laundering risks

To emphasize the importance of having influential family members

To highlight potential risks associated with close family ties (correct)

To track the financial transactions of multiple family members

Based on the text, what may classify a person as a PEP in some countries?

Being an executive board member of a political party (correct)

Being involved in international investigations

Having significant business interests in multiple industries

Owning a substantial amount of shares in a central bank

Why is the determination of when someone stops being a PEP not clearly defined?

It follows a specific time limit

It is determined by the person's legal status

It is based on a risk-based approach (correct)

It varies based on the individual's political influence

In the Luanda Leaks investigation, what was Isabel dos Santos specifically accused of?

Corruption, financial misconduct, and embezzlement of public funds Signup and view all the answers

What impact did the Luanda Leaks revelations have on dos Santos and her family?

Led to legal actions initiated in several countries Signup and view all the answers

According to the provided text, which relationship is NOT considered in the context of individuals associated with a PEP?

Business partner Signup and view all the answers

What effect did the Luanda Leaks scandal have on the discussion surrounding accountability and transparency?

Raised widespread discussions about corruption, accountability, and transparency in Angola and beyond Signup and view all the answers

What industries were mentioned as ones that Isabel dos Santos gained control of in the Luanda Leaks investigation?

Telecommunications, banking, and energy companies Signup and view all the answers

What does PEP stand for in the financial context?

Political Exposed Person Signup and view all the answers

According to FATF, a Political Exposed Person is defined as someone who...

Holds a prominent public function Signup and view all the answers

Why are PEPs considered high-risk individuals in terms of financial crimes?

Because of their prominent public functions Signup and view all the answers

Which FATF recommendations require countries to take measures against financial abuse by PEPs?

Recommendations 12 and 22 Signup and view all the answers

What is the purpose of the FATF's PEP requirements?

To prevent financial abuse and corruption Signup and view all the answers

What is the potential consequence of denying a business relationship with a PEP without a justified risk?

Violation of FATF recommendations Signup and view all the answers

In relation to financial crimes, why are PEPs singled out for specific attention?

Because their positions can be abused for criminal activities Signup and view all the answers