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Political Exposed Person (PEP) Definition

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Political Exposed Person (PEP) Definition

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Questions and Answers

What types of positions are typically considered Politically Exposed Persons (PEPs) according to the text?

CEOs of major corporations

Judges and lawyers

Members of Parliament and government ministers (correct)

Professional athletes and entertainers

Which term describes the individuals who are outside the PEP's family but are considered in a close relationship with them?

Coordinators

Associates (correct)

Clients

Colleagues

What led to the initiation of legal proceedings in several countries following the Luanda Leaks investigation?

Approval from the Angolan government

Ethical investments made by major companies

Embezzlement of public funds and corruption by Isabel dos Santos and her family (correct)

Lack of evidence in the leaked documents

What important industries did Isabel dos Santos allegedly gain control over through her political connections?

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

Who conducted the Luanda Leaks investigation that uncovered the corruption scandal involving Isabel dos Santos?

International Consortium of Investigative Journalists (ICIJ) Signup and view all the answers

Why are family members included in the definition of Politically Exposed Persons (PEPs) according to the text?

To identify potential risks from close family ties and the misuse of influence Signup and view all the answers

Which financial institution guidance recommends a risk-based approach for determining when a person stops being classified as a PEP?

Financial Action Task Force (FATF) Signup and view all the answers

What did the Luanda Leaks investigation reveal about the flow of funds from Angolan government funds to businesses associated with Isabel dos Santos?

Billions of dollars likely funneled for personal gain Signup and view all the answers

What impact did the Luanda Leaks revelations have on discussions in Angola and beyond?

Led to debates on corruption, accountability, and transparency Signup and view all the answers

Why are the functions included within the Politically Exposed Person (PEP) definition not clearly defined?

Because definitions vary by country Signup and view all the answers