PEP Talk: Navigating PEP risk management and compliance post-election

Webinar overview:

In a year with 40+ national elections and a volatile geopolitical outlook, there is an intense focus on the challenge of corruption. In fact, ComplyAdvantage’s global survey of 600+ senior compliance leaders revealed that detecting corruption is a strategic priority for 98% of firms worldwide.

Closer to home, the picture looks even more complex, with 79% of UK compliance leaders planning to become more risk-averse when managing PEPs - 27% higher than the global average.

In January 2024, the MLRs were updated, mandating that banks treat domestic politically exposed persons (PEPs) as ‘inherently lower risk’. In addition to this, UK firms are managing the after-effects of the general election, and the full outcome of the FCA’s review into the treatment of domestic PEPs is due shortly. Is there further evolution on the horizon and what does this mean for UK firms?

Join our panel of experts as we discuss:

What challenges and emerging risks are firms facing in relation to PEP risk management?
What can we expect from the FCA’s review?
How can banks prepare their PEP screening processes for the year ahead?
The role of technology in enhancing anti-corruption efforts and risk mitigation.

Area of expertise:

Unsecured Consumer Credit Economic crime Payments, innovation & resilience Personal banking

Aminah Samad

Director, Economic Crime, UK Finance

She specialises in delivering policy and advocacy on behalf of members, leading on UK Finance's domestic anti-money laundering offering and wider econ...

She specialises in delivering policy and advocacy on behalf of members, leading on UK Finance's domestic anti-money laundering offering and wider economic crime reform matters. She leads on anti-money laundering related regulatory and legislative projects, oversees the Money Laundering Advisory Panel and provides support on strategic issues within the wider economic crime reform programme.

Prior to UK Finance, Aminah worked as consultant at KPMG within the financial crime department. She specialised in providing advisory, investigation and analytical services within AML and sanctions to global financial services clients.

Iain Armstrong

Regulatory Affairs Practice Lead, ComplyAdvantage

Iain has held a number of senior compliance roles in major financial institutions, including NatWest, HSBC, and Barclays. Iain also spent eight years ...

Iain has held a number of senior compliance roles in major financial institutions, including NatWest, HSBC, and Barclays. Iain also spent eight years working at the UK's Financial Conduct Authority.

As part of Global Regulatory Affairs team at ComplyAdvantage, Iain supports our teams to build industry-leading financial crime detection tools, acting as the 'voice of the customer'.

Mark Spiers

Partner, Bovill Newgate

Mark has over 20 years’ experience in the industry, in particular across wealth management, banking and financial crime. Before joining Bovill Newgate...

Mark has over 20 years’ experience in the industry, in particular across wealth management, banking and financial crime. Before joining Bovill Newgate, he worked in multiple compliance roles including as a Money Laundering Reporting Officer in several large international investment banks, including UBS and Kleinwort Benson.

Mark is a hands-on practitioner who specialises in the practical interpretation of the rules in a commercial environment. He also has significant experience in handling regulatory intervention including thematic reviews and potential enforcement action.

Sarah Mandalia

Financial Crime & Sanctions VP, Mizuho Bank, London Branch

Sarah is currently part of the Head Office Compliance function at Mizuho Bank (London Branch) with oversight of the EMEA region. She has been in the B...

Sarah is currently part of the Head Office Compliance function at Mizuho Bank (London Branch) with oversight of the EMEA region. She has been in the Banking industry since 2011 starting out in the middle office at the asset management arm of Merrill Lynch before taking a short break to be a stay-at-home mum. She rejoined the Banking industry with Bank of America in Singapore in 2016 before moving internally to the UK in 2019. She has worked at other institutions such as China Construction Bank London Branch and DBS Bank London Branch.

ComplyAdvantage

ComplyAdvantage is a leading source of AI-driven financial crime risk data and fraud detection technology. ComplyAdvantage’s mission is to neutralize ...

ComplyAdvantage is a leading source of AI-driven financial crime risk data and fraud detection technology. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crimes. More than 1,000 enterprises in 75 countries rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world’s only global, real-time database of people and companies.

ComplyAdvantage has five global hubs in New York, London, Singapore, Cluj-Napoca, and Lisbon and is backed by Andreessen Horowitz, Goldman Sachs, Ontario Teachers, Index Ventures, and Balderton Capital. Learn more at complyadvantage.com.

Money Laundering Reporting Officer (MLRO); Managing Director/Head of Financial Crime/ Financial Crime Compliance ; Head of Compliance/ Chief Compliance Officer ; Financial Crime Manager; Head of AML/KYC; AML Officer/ Analyst; Head of Screening; Head of Sanctions/Sanctions Screening, Head of Fraud, Chief Risk Officer

And similar along with title such as;

Managing Director
Vice President
Director
Senior Manager
Manager
Analyst

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PEP Talk: Navigating PEP risk management and compliance post-election