Agencies issue statement on BSA due diligence requirements for PEPs

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NCUA, along other federal financial regulators, issued a joint statement clarifying that Bank Secrecy Act due diligence requirements for customers who may be considered “politically exposed persons” should be commensurate with the risks posed by the PEP relationship.

https://news.cuna.org/articles/118311-agencies-issue-statement-on-bsa-due-diligence-requirements-for-peps