Nordea needs to ask if users of Corporate Netbank are Politically exposed persons (PEP).
The question is to be answered by YES or NO.
When a new user or administrator is created or information of existing user or administrator is updated, the PEP question needs to be included in the information about the user.
Politically exposed person
A Politically exposed person is a person who serves or has recently served or has anybody in the close family or in close business associates that serves or has recently served in the position or function of:
- Head of state, head of government, minister or assistant minister
- Member of national assembly
- Member of a governing body of political party
- Member of a high-level judicial body, the decisions of which are not subject to further appeal, except in exceptional circumstances
- Member of the board of an auditor general’s office, a court of auditors or a central bank
- Ambassador, chargé d’affaires or high-ranking officer of the armed forces
- Member of an administrative management or supervisory body of a state-owned enterprise
- Director, member of the board or other person in the senior management of the international organization.
What does recently means?
Recently means 12 months after a person has left from above mentioned position.
Why does Nordea ask this question?
According to the Anti Money Laundering Act (AML) it’s required that the bank obtain specific information on persons acting on behalf of the company in relation to the bank. Nordea needs to fulfill these requirements to be compliant.