Challenges Of Identifying And Monitoring Politically Exposed Persons (Peps) In Latin America

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dc.contributor.authorClavijo Suntura, Joel Harry
dc.contributor.authorRosero Rosero, Piedad Maribel
dc.contributor.authorAragón Cuamacás, Gloria Esperanza
dc.contributor.orcidhttps://orcid.org/0000-0001-7708-0174es_EC
dc.contributor.orcidhttps://orcid.org/0000-0001-8140-6739
dc.contributor.orcidhttps://orcid.org/0000-0002-9536-3255
dc.coverageInglaterraes_EC
dc.date.accessioned2025-11-19T17:19:54Z
dc.date.available2025-11-19T17:19:54Z
dc.date.created2020-07-23
dc.date.issued2025-11-19
dc.description.abstract-enPurpose – The purpose of this paper is to analyze politically exposed persons (PEPs) according to Financial Action Task Force (FATF) Recommendations and assess the identification process followed by financial institutions to create a harmonized regional model for PEPs identification in LatinAmerica. Design/methodology/approach – FATF Recommendation No.12 states that financial institutions should identify PEPs. To do so, the latter uses either an internal identification system or an external database. Within this framework, the purpose of the research work is to determine whether the procedure adopted by the regulated entities complies with the requirements of the regulations. Both analytical and interpretative methods have been used for this purpose. Findings – In accordance with FATF Recommendation No.12, national and foreign PEPs, as well as officials of relevant international organizations, close relatives and closest associates must be identified. This wide range of people forms an hybrid type of PEPs. Because of the lack of a harmonized identification policy, it is likely that some people who meet these conditionsmay not be spotted. Originality/value – PEPs control success relies on accurate and prompt identification. Therefore, it is crucial to create an inter-state model of harmonized identification at a regional level in Latin America. It includes not only the participation of the obligated subjects but also the sector entities associated to the concerned economic activity.
dc.description.degreeN/Aes_EC
dc.identifier.doihttps://www.emerald.com/insight/content/doi/10.1108/JMLC-05-2020-0061/full/html
dc.identifier.issn1368-5201
dc.identifier.urihttps://repositorio.utn.edu.ec/handle/123456789/18008
dc.language.isoenges_EC
dc.publisherEmerald Publishing Limitedes_EC
dc.rightsopenAccesses_EC
dc.rightsAtribución-NoComercial-CompartirIgual 3.0 Ecuador*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/3.0/ec/*
dc.subject.enPOLITICALLY EXPOSED PERSONS
dc.subject.enFINANCIAL INTELLIGENCE UNITS
dc.subject.enIDENTIFICATION
dc.subject.enMONITORING
dc.subject.enRISK
dc.subject.enLATIN AMERICA
dc.subject.enLATIN AMERICA
dc.titleChallenges Of Identifying And Monitoring Politically Exposed Persons (Peps) In Latin Americaes_EC
dc.typeArticlees_EC

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