LexisNexis® Risk Solutions is a data and technology company which enables global financial institutions and corporations to assess, predict and manage risk. Its award-winning compliance and financial crime risk management platform called Bridger Insight® XG is used worldwide and is available in seven languages. The platform helps risk and compliance professionals to become more operationally efficient in their fight against financial and economic crimes such as money laundering, bribery and corruption, as well as managing supply chain, reputation and other business risks. LexisNexis Risk Solutions services six of the 10 largest banks in the world as well as national, regional and community banks. It is part of RELX Group, an Anglo-Dutch company and a leading global provider of professional information solutions.
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Wholesale de-risking by financial institutions may seem like a viable compliance strategy when dealing with certain customers, but in the long-term may cause more harm than good.
This whitepaper is designed to clarify the due diligence obligations of financial institutions and other entities, challenging assumptions about Politically Exposed Persons (PEPs) and how they should be treated.