Are we paying enough attention to international PEPs?

Posted by Yazad Bajina, director at Legal Futures Associate Checkboard

The legal profession needs to step up its game when it comes to politically exposed persons (PEPs). As UK firms deal with more and more individuals linked to foreign governments, identifying high-risk PEPs is becoming more of a challenge – but they can’t afford to let monitoring fall by the wayside.

The main aim of PEP checks is to mitigate the risk of corruption and bribery, and to ensure individuals aren’t linked to sanctioned individuals, or personally sanctioned themselves.

It requires a high-level of ongoing monitoring to scope out red flags and identify potential high-risk relationships. This might include contracts with foreign governments, news stories about political relationships, or simply a familial link