Politically exposed persons money laundering typologies in Kosovo

30 May 2018
Politically exposed persons money laundering typologies in Kosovo

This publication is the first assessment in Kosovo of money laundering involving Politically Exposed Persons. The aim is to illustrate trends of how corrupt officials are misusing the financial system to hide illicit proceeds. The first section contains a guidance note for private sector reporting entities on how to engage with PEPs as business clients, monitor the risk of these relationships as well as inherent risks in the products and services they offer, and how to identify red flag indicators that may require filing a suspicious activity report to the Financial Intelligence Unit. The second section contains eight typologies (or cases) of identified money laundering involving PEPs in Kosovo. These typologies are based on real reported cases, but have been redacted and altered and therefore do not in totality represent any particular ongoing case. Their purpose is illustrative to help the private sector discern suspicious financial activities involving PEPs, and law enforcement and the judiciary better understand how this type of white collar crime is being committed in order to improve prosecution and adjudication.

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