Beneficial Owners and Politically Exposed Persons (PEPs)
This course explains how to identify beneficial owners and politically exposed persons (PEPs), and why they matter in managing financial crime risk. It helps teams understand their responsibilities and make informed decisions that protect the business from compliance breaches.
Course overview
You’ll learn how to identify who ultimately owns or controls a customer, recognise PEPs based on public roles or associations, and understand the risks they may present.
You’ll also learn when and how to conduct beneficial owner and PEP checks, what to do if ownership cannot be confirmed, and how to apply risk-based controls to meet AUSTRAC requirements and protect your venue from financial crime.
Languages
Available in English
What you’ll learn
- Identify beneficial owners and understand ownership vs control
- Recognise PEPs, including family members and close associates
- Conduct beneficial owner and PEP checks during onboarding and reviews
- Apply ECDD and safe harbour requirements based on ML/TF risk
- Take appropriate action when beneficial owners cannot be identified
Why choose this course?
- Supports AML/CTF compliance and due diligence obligations
- Reduces risk of financial crime, fraud, and reputational damage
- Builds staff confidence in identifying high-risk individuals
- Helps create consistent, compliant processes across teams
Legal context
Businesses may be required to identify beneficial owners and assess PEP risk under Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws and related regulations. This training helps organisations meet their obligations and demonstrate due diligence in customer and supplier relationships.