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Low Risk by Decree: Why the Epstein Files Shatter the UK’s PEP Presumption In January 2024, the UK amended its Money Laundering Regulations to introduce a statutory presumption that domestic politically exposed persons (PEPs) present a lower level of risk than their foreign ...

The UK tells firms domestic PEPs are low risk. Months later, the Epstein files allege a Cabinet minister forwarded market-sensitive documents to a convicted offender. When does ‘proportionate’ become ‘negligent’?
#PEPScreening #AML #Compliance #EpsteinFiles #FCA #FATF #DueDiligence #RegulatoryRisk

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