Financial Services Financial Services

UK banks should treat domestic PEPs as less risky under law change

By Martin Coyle
  • 15 Dec 2023 11:09
  • 15 Dec 2023 11:09
UK banks will have to treat domestic politically exposed persons, or PEPs, as less risky than their overseas counterparts, under new legislation introduced by lawmakers.
The UK government set out an amendment to the country’s anti-money laundering legislation yesterday as part of a statutory instrument, which means the changes won’t

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Martin Coyle

Senior Correspondent


Martin Coyle is a senior correspondent, based in MLex's London office, reporting daily on bribery and corruption issues in the UK and Europe. Previously he was a senior editor at Thomson Reuters where he covered anti-money laundering, financial crime and regulatory enforcement issues. Prior to that he was editor of The Accountant, the world's oldest accounting publication, and International Accounting Bulletin, a bi-monthly business journal owned by Lafferty.

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