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Do I have to determine whether a corporate client is a politically exposed foreign person (PEFP)?

April 26, 2017client corporate determine foreign pefp person politically

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Do I have to determine whether a corporate client is a politically exposed foreign person (PEFP)?

2 Answers

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No, you only have to make that determination for individuals. However you may want to refer to your risk assessment for guidance on processes that may be applicable for higher risk clients.

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No, you only have to make that determination for individuals. However, your risk assessment may result in your deciding to implement other processes for corporate clients that you assess as higher risk.