Section 26 of the AML/CFT Act requires that we take reasonable steps to determine whether a Verified Payee is a Politically Exposed Person (PEP) or a close associate of a PEP.
When you complete your Payee Verification details, your name is checked against a watch list service from Dow Jones which includes the following checks:
- Global Sanctions and PEP (Political Exposed Person) lists
- SIP’s (Special Interest Person)
- RCA’s (Relative or Close Associate)
Being a PEP does not mean you cannot be a Verified Payee on Givealittle. It just means a few more questions may be asked.