During an audit, or worse, a court case, you do not want to be presented with a policy document from your own firm dated ten years ago, with no evidence that it has ever been looked at since.
Tipping off understandably alarms frontline staff. If you’re not careful, you end up with a team terrified to talk to customers. Create sensible guidance for them.
More acronyms. Now that you have PEP - it is time to meet your new friend SAR. SAR stands for Suspicious Activity Report. From the
Fear not, I'm not going to start shouting. PEP is yet another acronym. Politically Exposed Person. It feels as though the technical detail of the
It's not an only-child. there's big sister Enhanced Due Diligence (EDD) and baby brother Simplified Due Diligence (SDD) too. We'll get to them later.