Preventive Measures for the Banking Sector
By:
11 May 2012
Languages: English, Spanish, Russian
Publisher: World Bank Publications

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Revelations of the plundering of state assets by Politically Exposed Persons—senior government officials, their family members and close associates, have led to greater scrutiny of their financial dealings. Yet implementation of international standards on PEPs are still lacking. This report is designed to help banks and regulatory authorities address the risk posed by PEPs and prevent the corrupt from using the financial system to launder the proceeds of corruption. It provides recommendations and good practices for complying with international standards and increasing supervisory effectiveness.