Money Laundering Bulletin
UK parliamentarians temper PEP controls
UK MPs and their families should no longer feel “hounded” by the banks like “African despots”, in the colourful language of member Charles Walker, vice chairman of the influential 1922 Committee of Conservative backbenchers, after the Government accepted his proposed amendment to the Bank of England and Financial Services Bill, which heavily qualifies how politically exposed person (PEP) customers may be treated. [1]