![]() ![]() ![]() Politically exposed persons and heads of international organizations guidance for non-account-based reporting entity sectors:.Politically exposed persons and heads of international organizations guidance for account-based reporting entity sectors:.In addition to this guidance, RE sector specific PEP and HIO requirements are detailed in the applicable guidance pieces listed below: It also provides clarity on related terminology and considerations. This guidance explains your obligations under the PCMLTFA and associated Regulations in relation to determining who are PEPs, HIOs, and persons related or closely associated to them. Footnote 1 The family members and close associates of PEPs and HIOs are potential targets as well because they can more easily avoid detection. The access, influence and control that PEPs and HIOs have can make them vulnerable to corruption and the potential targets of criminals who could exploit their status and use them, knowingly or unknowingly, to carry out money laundering (ML) or terrorist activity financing (TF) offences. References to PEPs in this guidance include both foreign and domestic PEPs, unless otherwise specified. However, some requirements and the examples given in this guidance may only apply to certain REs. This guidance came into effect on June 1, 2021.Īll reporting entities (REs) have politically exposed persons (PEPs) and heads of international organizations (HIOs) requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations. ![]()
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