If you want to avoid regulatory and reputational damages, you want to be sure that your organization understands how a PEP (politically exposed person) is recognized, together with associates. This is not as easy to do as you might think.
To put it as simple as possible, you check to see if a person is a PEP by checking databases of individuals. Usually, these are wealthy individuals that are documented in order to expose a potentially damaging association with someone else involved in politics. Identifying people that are PEP is really important as it helps avoid numerous risks.
The PEP is defined by the FATF (Financial Action Task Force). It is an individual that has a public function. Because of the influence of the position, it is possible that the PEP can be abused in order to commit ML (money laundering) offenses, together with other offenses like bribery or corruption.
Due to the extra risks associated with PEPs, extra anti-money laundering and counter-terrorist financing measures have to be employed by businesses. This is done in a relationship with a PEP. PEP red flags can easily lead to huge problems whenever they are not respected.
There are different PEP categories that exist. Some are relevant for most businesses while others are not. It is important for a business to properly assess the risks of working with a PEP. This starts by knowing what type of PEPs exist. What is particularly important is knowing the high-level PEPs, … Read More . . .
Paul McCarthy Cork Entrepreneur Launches New Vimeo Channel
There is almost no person who doesn’t know about Bitcoin and the new concept of cryptocurrency. Some have heard about it from the stories of others who ‘got rich overnight,’ but it wasn’t as easy as it might seem at first glance.
In the beginning, there was a lot of struggle and distrust of the new technology. Those who believed in the success of the blockchain concept, and dedicated to progress, have a lot of money today. All cryptocurrencies, led by Bitcoin (learn more about it at this link), have enjoyed great success. Almost every year, some new digital coin comes into focus. This year, it is DasCoin, the cryptocurrency that is causing a lot of controversies but is very attractive to investors.
How DasCoin Works
According to experts, DasCoin is a hybrid cryptocurrency. It is not ‘mined’ like all the others – it’s based on the affiliate principle, but it has many features of digital coins. For example, it could be the subject of private exchanges or used as a means of payment in the online and offline world. Admittedly, the offline world still doesn’t fully accept it (neither do Bitcoin), but it certainly has great potential.
Those who own DasCoin are building their network by increasing the number of members who purchase a license to access that network – something like Multi-Level Marketing. The platform on which this coin is built is a kind of innovation, but many users do not look favorably on it.
Enter a cellphone quantity, space code, or city and state. The proposed overlay course of differs from the geographic cut up technique the CPUC used in 1992, when carving the 909 area code out of the 714 region, and in 2004, when breaking Riverside County from the 909 to change into the 951. Since 2007, the last 12 months a region was cut up geographically, overlaying new area codes has change into the norm, NANPA Director Beth Sprague mentioned in a telephone interview Friday, June 7.
You should start using the new dialing procedure on August 10, 2019. Starting February eight, 2020, you should use the brand new dialing procedures for all native calls. After this date, if you do not use the new dialing procedures, your calls won’t complete and a recording will instruct you to hang up and dial again.
Along with altering your dialing procedures, all services, automated dialing tools, or other kinds of equipment which are programmed to dial a 7-digit number will need to be reprogrammed to use the new dialing procedures. Some examples are life safety methods, PBXs, fax machines, Web dial-up numbers, alarm, and safety methods or gates, pace dialers, name forwarding settings, voicemail providers, etc. You may additionally wish to test your small business stationery or advertising materials to ensure the world code is included.
In addition to altering your dialing procedures, all companies, automatic dialing equipment, or different forms of gear which can … Read More . . .