What is the appropriate compliance control for identifying politically exposed persons (PEPs) according to the Basel Committee’s paper on Customer Due Diligence for Banks?

What is the appropriate compliance control for identifying politically exposed persons (PEPs) according to the Basel Committee’s paper on Customer Due Diligence for Banks?
A . Determining that a local figure is a PEP
B . Reviewing when a relationship is established
C . Reviewing relationships at account opening and on a periodic basis
D . Requiring that the customer discloses that they are a PEP or an associate of a PEP

View Answer

Answer: C

Explanation:

Reference: http://www.menafatf.org/sites/default/files/Newsletter/PEPs_in_relat_on_to_AMLCFT.pdf