What is a regulator?
In Pibisi, a regulator in matters of AML refers to a country or jurisdiction and the current regulatory framework in this matter.
Different countries usually adhere to the resolutions , stipulations or recommendations of supranational entities, such as the United Nations or the FATF, or even other reference countries in the fight against money laundering and terrorism such as the States United States.
The regulation of each country is constantly evolving, and therefore, as an Obligated Subject, it is vitally important not only to know it in detail but to be up to date with the changes in the regulatory frameworks prevailing in those countries. jurisdictions in which it operates.
Regulatory framework
At Pibisi we analyze each jurisdiction of interest to our clients independently and exhaustively and learn everything related to its regulatory framework.
Through this analysis we try to answer some relevant questions such as:
- How do you define your PEPS (politically exposed persons)?
- How do you define your Obligated Subjects?
- What official sources of PEPs Are they relevant?
- Do you have your own official sources of sanctions and terrorists?
- Do you adhere to any supranational regulation?
With all the knowledge acquired our data team develops specific automatic information extraction engines that will continuously update our proprietary AML database from official AML lists.