Greenberg, Theodore S.Gray, LarissaSchantz, DelphineGardner, CarolinLatham, Michael2012-03-192012-03-192010978-0-8213-8249-3https://hdl.handle.net/10986/2441The paper is focused on the banking sector, not on other financial and nonfinancial sectors vulnerable to the laundering of corrupt funds. These other sectors may find the recommendations and good practices provided in this paper relevant, but should analyze the findings of this paper in light of their particular circumstances and specific features. The paper includes a number of practical tools to help guide banks, regulators, and other public authorities. The paper is organized into four major parts: the remainder of this part (part one) sets out some of the main observations and trends in politically exposed person (PEPs) compliance and an analysis of the principal reasons for poor compliance and overall ineffectiveness of systems to detect and monitor PEPs. Part two focuses on the implementation of PEP measures by regulatory authorities and banks. Part three reviews the roles of the public authorities that are primarily involved in preventing abuse by corrupt PEPs. These authorities include the regulatory authority, which is responsible for providing guidance to banks and enforcing compliance, as well as the financial intelligence unit (FIU), which has a role in the context of suspicious transaction reports (STRs) on PEPs. Finally, part four considers some of the cross-cutting issues national cooperation, training, and resources that must be addressed by all stakeholders.En años recientes las revelaciones de gran corrupción y saqueo de bienes del Estado han fomentado un mayor escrutinio de las relaciones financieras con Personas Expuestas Políticamente (PEPs), es decir, funcionarios públicos prominentes y sus familiares y estrechos colaboradores. En general aún se implementan las normas internacionales para las Personas Expuestas Políticamente de manera efectiva, a pesar de los esfuerzos realizados por una gama de instituciones financieras y autoridades regulatorias para impedir que las PEPs corruptas se introduzcan en el sistema financiero y lo utilicen para lavar el producto de la corrupción. La implementación de un sistema efectivo para las PEPs es un componente esencial de la prevención y detección de transferencias del producto del delito y, en última instancia, del proceso de recuperación de los bienes robados. Este libro ofrece recomendaciones y buenas prácticas para fortalecer el cumplimiento de las normas internacionales y ampliar la efectividad de la supervisión. Es una herramienta importante para individuos, gobiernos, financieras, empresas del sector privado y organizaciones internacionales que trabajan en la elaboración e implementación de normas para combatir la corrupción y el lavado de dinero, y la recuperación de los bienes robados.CC BY 3.0 IGOABUSEABUSESACCOUNTABILITYACTION PLANACTIVE BRIBERYANTI-CORRUPTIONANTICORRUPTIONASSETSAUDIT TRAILBANK ACCOUNTSBANK FOR INTERNATIONAL SETTLEMENTSBANK GOVERNORSBANKING SECTORBANKING SERVICESBANKING SUPERVISIONBANKSBENEFICIAL OWNERBENEFICIAL OWNERSBRIBERYBRIBERY OF FOREIGN PUBLIC OFFICIALSBRIBESBUSINESS ACTIVITIESBUSINESS MODELBUSINESS PROCESSESBUSINESS RELATIONSHIPBUSINESS RELATIONSHIPSBUSINESSESCAPITAL FLIGHTCENTRAL BANKCENTRAL BANKSCLIENT BASECOMPANYCOMPANY FORMATIONCOMPLAINTSCONFIDENCECOPYRIGHTCOPYRIGHT CLEARANCECOPYRIGHT CLEARANCE CENTERCORPORATE ENTITIESCORPORATIONSCORRUPTCORRUPT ACTSCORRUPT OFFICIALSCORRUPT REGIMECORRUPTIONCORRUPTION INVESTIGATIONSCOUNTRY OF ORIGINCRIMECRIMINALCRIMINAL LIABILITYCRIMINALSCURRENCYCUSTOMER BASECUSTOMER PROFILECUSTOMER PROFILINGCUSTOMER REQUESTSDATA PROTECTIONDEPOSITDEVELOPING COUNTRIESDUE DILIGENCEE-MAILEMBEZZLEMENTEMPLOYMENTEXPOSUREFINANCIAL ADVISERSFINANCIAL CRIMEFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL INTELLIGENCEFINANCIAL INTELLIGENCE UNITFINANCIAL INTELLIGENCE UNITSFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL RESOURCESFINANCIAL SECTORFINANCIAL SERVICESFINANCIAL SYSTEMFINANCIAL SYSTEMSFRAUDGOVERNANCE RESPONSIBILITIESGOVERNMENT REVENUESGRAND CORRUPTIONGROSS DOMESTIC PRODUCTHARMONIZATIONINCOMEINDIVIDUALSINDUSTRY STANDARDSINITIATIVEINTEGRITYINTERNATIONAL BANKINGINTERNATIONAL BANKSINTERNATIONAL COOPERATIONINTERNATIONAL STANDARDINTERNATIONAL STANDARDSINVESTIGATIONSINVESTMENT CLIMATEJUDICIARYJURISDICTIONJURISDICTIONSJUSTICELAW ENFORCEMENTLAWSLAWYERSLEGAL ENTITIESLEGAL PERSONLEGAL PERSONSLEGAL PROFESSIONALSLEGAL PROVISIONSLEGAL RISKSLEGISLATIONLICENSESLIMITEDLIMITED ACCESSMACROECONOMIC STABILITYMANAGEMENT SYSTEMSMATERIALMEDIAMEMBER STATEMEMBER STATESMINISTERMINISTERSMISAPPROPRIATIONMONEY LAUNDERINGNATIONAL LAWNATURAL PERSONSNATURAL RESOURCESNEGOTIABLE INSTRUMENTSNEW PRODUCTOFFENSESOFFICE HOLDEROFFICE HOLDERSPASSIVE BRIBERYPEER REVIEWPENALTYPERSONAL GAINPERSONSPHOTOSPOLITICAL PARTIESPOLITICAL PARTYPOLITICIANSPRIVATE BANKINGPRIVATE INVESTMENTPRIVATE SECTORPRIVATE SECTOR DEVELOPMENTPROSECUTIONPROSECUTIONSPROSECUTORPROSECUTORSPUBLIC AGENCIESPUBLIC ASSETSPUBLIC ENTERPRISESPUBLIC INFORMATIONPUBLIC OFFICIALPUBLIC OFFICIALSQUERIESREAL ESTATEREGULATORREGULATORSREGULATORY AUTHORITIESREGULATORY AUTHORITYREGULATORY FRAMEWORKREGULATORY FRAMEWORKSREGULATORY REQUIREMENTSREPUTATIONREPUTATIONSRESULTRESULTSRISK MANAGEMENTRULE OF LAWSANCTIONSSCANDALSSERVICE DELIVERYSERVICE PROVIDERSSMALL BANKSSOCIAL SERVICESTAKEHOLDERSSTATE ASSETSSUBSIDIARYTECHNICAL EXPERTISETELEPHONETERRORISMTHEFTTIME PERIODTRANSACTIONTRANSITION COUNTRIESTRANSPARENCYUNIONVERIFICATIONWorld Bank10.1596/978-0-8213-8249-3