They’re coming for you!

[Strungup52]

Spoke to our lender this morning re loan for a new air drill.
Among 7 or 8 security questions - ‘Are you a politically exposed person?’
That’s a first for me, a semi retired farmer in the middle of the Prairies. Briefly felt the need to ask why, but the person at the other end of the phone did not have English as her first language.
I know that question is common in Britain but had not heard of anyone being asked the question here.

 

[melted welly]

We’re all exposed to politics, unfortunately!.

 

[Widgetone]

Spoke to our lender this morning re loan for a new air drill.
Among 7 or 8 security questions - ‘Are you a politically exposed person?’
That’s a first for me, a semi retired farmer in the middle of the Prairies. Briefly felt the need to ask why, but the person at the other end of the phone did not have English as her first language.
I know that question is common in Britain but had not heard of anyone being asked the question here.

Yep, been asked that on a form when becoming a trustee for some property.
Didn't know whether to feel insulted or delighted!

 

[spin cycle]

I think i'dve asked 'define a politically exposed person please?'

 

[ISCO]

PEP is someone involved in politics and the question is asked as a PEP is thought to be more of a risk of having dirty money that needs laundering as they may be corrupt. Who'd have thought it?

Known associates of a PEP are also considered a high risk.

Higher level.of due diligence required for both.

 

[cows sh#t me to tears]

PEP is someone involved in politics and the question is asked as a PEP is thought to be more of a risk of having dirty money that needs laundering as they may be corrupt. Who'd have thought it?

Known associates of a PEP are also considered a high risk.

Higher level.of due diligence required for both.

Why would they need a loan then

 

[David1968]

Why would they need a loan then

It's a form of money laundering.

The loan is clean money. Then they use the dirty money to pay it off.

 

[cows sh#t me to tears]

why would that worry a greedy bank....
Unless your cŕáp at it and are likely to get caught.

 

[cows sh#t me to tears]

It's a form of money laundering.

The loan is clean money. Then they use the dirty money to pay it off.

Isn't laundering money the job of Casinos anyway? It is here...

 

[Cowabunga]

It took me, the business partners, nearly a year to get through NatWest’s anti-money laundering verification process. However I do not recall a question about being politically exposed. Maybe I should do the whole process again with the question included? I feel insulted that we were excluded from that one.

 

[neilo]

Asking for a friend, where might I get hold of some of this dirty money…

 

[David1968]

why would that worry a greedy bank....

Because the Government is hitting them with massive fines.

 

[David1968]

Asking for a friend, where might I get hold of some of this dirty money…

I've a tenner here you can have. It fell in the sh!t this morning when I pulled out my hanky

 

[neilo]

I've a tenner here you can have. It fell in the sh!t this morning when I pulled out my hanky

You didn’t catch it before it landed?

 

[David1968]

You didn’t catch it before it landed?

I'm not as quick as I used to be

 

[PSQ]

PEP is someone involved in politics and the question is asked as a PEP is thought to be more of a risk of having dirty money that needs laundering as they may be corrupt. Who'd have thought it?

Known associates of a PEP are also considered a high risk.

Higher level.of due diligence required for both.

Hold on, are we talking about the same banks that galloped towards the 2008 financial crisis by buying Billions of pounds of worthless debt from highly questionable organisations, before being baled out with Billions of tax payers (our own) money?

And they're asking us if we are 'fit and proper' people to handle money???

 

[Muddyroads]

Are there any farmers who aren’t politically exposed?

 

[Tarw Coch]

Are there any farmers who aren’t politically exposed?

Don’t know, what does the term mean?

Isn’t everyone in the country exposed to the decisions our politicians make?

 

[clbarclay]

Just don't admit to ever having or being interested in a claas dominator. Apparently they make you very politically exposed.

 

[Tarw Coch]

Just don't admit to ever having or being interested in a claas dominator. Apparently they make you very politically exposed.

Think you have to be careful putting “dominator” into Google