A financial institution has expanded its scope of services so that it is attracting the business of politically exposed persons (PEPs) who had previously never been part of the customer base.
Which two courses of action should the compliance officer include in the institution’s procedures for considering PEPs as customers? (Choose two.)
A . Conduct enhanced ongoing monitoring of the business relationship
B . Expedite due diligence when a PEP is pre-approved by a member of senior management
C . Obtain appropriate senior management approval for establishing a business relationship with a PEP from a high risk country
D . Take adequate measures to establish the source of wealth and source of funds which are involved in the business relationship or occasional transaction
Answer: AC
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