Politically Exposed Person List Download Philippines

| 21-04-2021
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PEPs is an abbreviation for Politically Exposed Persons, a terminology used mostly in anti- money laundering legislation in Europe. It is to a great extent the equivalent of the Senior Foreign Political Figure, as defined by the USA PATRIOT Act.

Beneficial Ownership (BO) disclosure and Politically Exposed Persons (PEP) reporting in the Philippines has been a significant aspect of transparency in the Philippines. The multi-stakeholder group identifies tax evasion, money laundering, and compliance with the Constitutional provisions on the nationality of mining companies as the national. A watchlist of risky individuals and corporate entities owned by Dow Jones has been exposed, after a company with access to the database left it on a server without a password. Bob Diachenko, an.

According to section 312 USA PATRIOT Act, a Senior Foreign Political Figure is defined as:
- current or former senior official in the executive, legislative, administrative, military, or judicial branch of a foreign government (elected or not)
- a senior official of a major foreign political party
- a senior executive of a foreign government owned commercial enterprise, being a corporation, business or other entity formed by or for the benefit of any such individual
- an immediate family member of such individual; meaning spouse, parents, siblings, children, and spouse's parents or siblings
- any individual publicly known (or actually known by the relevant financial institution)to be a close personal or professional associate
Is the section 312 USA PATRIOT Act already effective?

The rule is in fact effective. The treasury department issued an interim final rule (billing code 4810-02). This regulation became effective in July 2002, for financial institutions that are:
a) an insured bank (as defined in section 3(h) of the Federal Deposit Insurance Act (12 U.S. C. 1813 (h))
b) a commercial bank
c) an agency or branch of a foreign bank in the United States
d) a federally insured credit union
e) a thrift institution; or
f) a corporation acting under section 25A of the Federal Reserve Act (12 U.S. C. 611 et seq.)
g) broker or dealer registered, or required to register, with the SEC under the Securities Exchange Act of 1934 (15 U.S. C. 78a et seq.)
h) an FCM or IB registered or required to register, with the CFTC under the Commodity Exchange Act (7 U.S. C 1 et seq.)
Finally, remember that the issue of foreign corruption was addressed even before the USA PATRIOT Act. In a guidance paper in 2001 (http://www.federalreserve.gov/boarddocs/SRLETTERS/2001/sr0103a1.pdf ), the department of treasury required special attention for PEP accounts.
What does the USA PATRIOT Act require in reference to PEPs?

In summary, the Act requires two things: firstly spot those private banking accounts that are associated with PEPs, and secondly make sure that the funds do not derive from corruption.

No, it is only relevant for clients that are private banking clients. However, it is important to emphasize that banking organizations that knowingly engage in transactions that represent the proceeds of foreign official corruption may be involved in the crime of money laundering under U.S. law.

Section 312 of the Act defines the term private banking account to mean an account that requires a minimum deposit of at least $1,000,000, that is established for one or more individuals, and that is assigned to or administered or managed by, in whole or in part, an officer, employee, or agent of a financial institution acting as a liaison between the financial institution and the direct or beneficial owner of the account.

There are many prominent cases involving Politically Exposed Persons. Particularly European Tax Havens like Switzerland, Lichtenstein and Luxemburg experienced their fair share with those high risk clients; amongst them the Marcos family, Sani Abacha, Arnoldo Aleman and others. More recently, on August 5, 2003 Benazir Bhutto (the former Prime Minister of Pakistan and her husband, Asif Zardari have been found guilty of money laundering by a court in Switzerland and sentenced to a six-month suspended jail term. Around the same time, a special US task force in Miami succeeded in freezing assets at local banks belonging to Arnoldo Aleman (former president of Nicaragua) and Byron Jerez (Nicaragua's former chief tax collector).

The Bureau of Immigration and Customs Enforcement of the U.S. Department of Homeland Security, which calls itself ICE, has launched a unique pilot Task Force in Miami focusing on PEPs amongst other issues. According to media news, the 15 members of the unit concentrate on the corruption of foreign political figures, with a special focus on Ecuador, Guatemala, Honduras and Peru, Nicaragua and the Dominican Republic.

Example Of Politically Exposed Person

That is possible and the author will discuss several options in a separate article.
? 2003
Dirk Mohrmann, WorldCompliance
www.WorldCompliance.com
Automatically screen every client or potential client with a custom-built, due diligence database of more than 600,000 known or suspected terrorists, money launderers, illegal narcotics traffickers, arms dealers, fraudsters, and other white collar criminals, as well as Politically Exposed Persons, in more than 220 countries. WorldCompliance's database contains investigative research, as well as government sanctions, regulatory warnings and criminal indictments, and is particularly strong in the area of offshore tax havens. The modular structure of the database allows you decide on the level of protection that you feel is necessary for your company. This enables you to build a cost efficient compliance tool to protect your company. WorldCompliance is fully compatible with most other KYC systems, including OFAC or transaction-based monitoring systems.
WorldCompliance is used worldwide by auditors, banks, broker-dealers, consulting services, financial service providers, regulators and others. Please feel free to visit www.worldcompliance.com, contact a representative at info@worldcompliance.com or call us at 1 877 258 1877 for more info.

Content

The PEP Desk® contains Politically Exposed Persons (PEPs) and important persons from more than 240 countries and territories.

  • Extensive global coverage
  • Designed to comply with regulatory requirements maximizing efficiency
  • Customized and flexible structure
    • Country selection
    • Optional alternative scripts (Cyrillic, Arabic, Mandarin, etc.)
    • Free selection of categories
      (Regional public officials, Ex PEPs who have not been in office for more than one year...)
    • Gender and title selection for minimization of screening effort

Curated Information

Clients and partners can select the information that they really need. The info4c PEP Desk® is structured in line with regulatory and other important categories:

  • Heads of state
  • Cabinet members and ministerial staff
  • Members of the parliament
  • Family members of and closely associated persons to PEPs
  • Highest members of the judiciary
  • National bank governor and members
  • Political and religious leaders
  • Military officials
  • Senior executives of state owned companies
  • Ambassadors, consuls, diplomats
  • Regional PEPs
  • Ex-PEPs
Advantages
  • Cost-efficient, automatic screening for a large numbers of names
  • No irrelevant data and unnecessary processing work results in a minimisation of false positives
  • No rumours and doubtful information results in no legal issues
  • Official and reliable sources
  • Audit-proof documentation
SourcesPolitically Exposed Person List Download Philippines

Sources of information for PEP Desk® are almost exclusively official government websites (presidency, government, legislative bodies, supreme courts of justice, military administration etc.) and official gazettes where laws, decrees, investitures and depositions are published.

FAQ - frequently asked questions

How does PEP Desk® compare to providers of similar products and services?

info4c focuses on providing our clients and partners with the relevant information they need for their decision making. We therefore separate compliance information into different databases that serve various regulatory and compliance purposes. Our PEP Desk® database is often compared to other products in the market which contain different kinds of compliance data (sanctions, PEPs, other lists and news). Such databases may appear interesting but can be biased, based on biased information or even contain completely irrelevant information for most internal processes and regulatory needs.

The info4c PEP Desk® is ideal for the purpose of identifying PEPs; it contains information in line with regulatory requirements, definitions of politically exposed persons and other important categories. This avoids unnecessary work, maximises cost-efficiency in matching portfolios of names, and minimises the effort in analysing the end results. In addition, the categorisation and structure of our database allows our clients and partners to customise and select information in line with internal guidelines, local requirements and additional needs. One should note that the definition of PEPs is subject to differences in various jurisdictions and might be also different from institution to institution within the confines of regulatory limits. Our database assures an optimal due diligence compliance mechanism.

For clients or partners that wish additional compliance-relevant information beyond the PEP Desk®, info4c offers a separate “Watchlists & Blacklists” database and 'Sanction Lists'.

What kind of sources do you revert to for the update of your PEP Desk®?

Sources of information for the PEP Desk® are primarily official government websites (presidency, prime minister & cabinet ministers, legislative bodies, supreme courts of justice, military administration etc.) and official gazettes in which laws, decrees, investitures and depositions are published.

How often do you update your databases?

The PEP Desk® is updated constantly. Standard prices are based on monthly deliveries. Sanction lists are updated daily and standard prices are based on deliveries every 2 weeks. Watchlists & Blacklists are updated individually at different times (there are currently more than 1'450 lists from over 90 countries).

Cia Politically Exposed Persons List

Do you sell complete systems (software) for the client’s portfolio screening?

Our core product is compliance information and content. We work with various international service providers and IT partners and our databases are integrated in many different IT systems. We provide an online due diligence check for clients.

Email & FactsheetContact us for more PEP Desk® information

List Of Politically Exposed Persons