10 Questions
What types of positions are typically considered Politically Exposed Persons (PEPs) according to the text?
Members of Parliament and government ministers
Which term describes the individuals who are outside the PEP's family but are considered in a close relationship with them?
Associates
What led to the initiation of legal proceedings in several countries following the Luanda Leaks investigation?
Embezzlement of public funds and corruption by Isabel dos Santos and her family
What important industries did Isabel dos Santos allegedly gain control over through her political connections?
Telecommunications, banking, and energy
Who conducted the Luanda Leaks investigation that uncovered the corruption scandal involving Isabel dos Santos?
International Consortium of Investigative Journalists (ICIJ)
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
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)
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
What impact did the Luanda Leaks revelations have on discussions in Angola and beyond?
Led to debates on corruption, accountability, and transparency
Why are the functions included within the Politically Exposed Person (PEP) definition not clearly defined?
Because definitions vary by country
Learn about the definition of a Political Exposed Person (PEP) according to the Financial Action Task Force (FATF). Understand the increased risk associated with PEPs in the Know Your Customer field.
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