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Who qualifies as a Family Member or Close Associate (RCA) of a PEP?
AML Learnings · Article FAQ
Detailed Explanation
Relatives and Close Associates (RCAs) include immediate family members (spouses, partners, parents, children, and their spouses) as well as individuals with close business or beneficial ownership ties to the public official. RCAs are subject to enhanced due diligence because illicit proceeds are often diverted or disguised using personal networks to circumvent direct oversight.
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Disclaimer: This material is for educational purposes only. Every financial situation is unique. Consult with a certified professional before making significant decisions.