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How is the risk associated with a client identified as a PEP defined in El Salvador?
Risk is determined by considering political position, exposure to potential corruption and possible influence on financial or political decisions.
How is a client's risk assessed in the KYC process in Costa Rica?
A client's risk is assessed in the KYC process in Costa Rica by reviewing factors such as the nature of the relationship, geographic location, occupation, source of funds, and exposure to high-risk activities. This assessment allows financial institutions to apply due diligence measures proportional to the risk associated with the client.
What is the frequency of reviews of AML policies and procedures in Bolivian financial institutions?
Financial institutions in Bolivia review their AML policies and procedures at least annually and more frequently in response to regulatory changes.
Is there any digital format of the identity card officially recognized in Bolivia?
No, until the date of my last update, the physical identity card is the only document officially recognized in Bolivia.
How are legal sector professionals involved in preventing money laundering in Peru?
Legal sector professionals in Peru play a crucial role in conducting thorough due diligence on transactions involving legal aspects. Identifying beneficial owners and reporting suspicious transactions are critical components of your responsibility to prevent money laundering.
How does verification in risk lists influence strategic decision making in technology companies in Ecuador?
Risk list verification influences strategic decision making in technology companies in Ecuador by providing critical information about business partners and suppliers. Incorporating verification criteria into strategic planning allows companies to mitigate risks associated with high-risk partnerships, safeguarding the integrity and reputation of the technology sector...
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