Written by Momen Talaat
Foreign PEPs, short for Politically Exposed Persons, refer to individuals who hold prominent positions in foreign governments or international organizations.
Definition: Foreign PEPs, short for Politically Exposed Persons, refer to individuals who hold prominent positions in foreign governments or international organizations. These individuals are deemed to have a higher risk of involvement in corrupt practices or illicit financial activities due to their influential roles. Foreign PEPs are subject to enhanced scrutiny as part of anti-money laundering (AML) and counter-terrorism financing (CTF) measures to prevent illicit funds from entering the financial system.
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