Onboarding PEP Compliance Zoom Videoconference
(complimentary)
This initial compliance videoconference is strictly reserved for communication between the politically exposed person (PEP) and IFB Bank. Participation is limited to the PEP and their duly authorised legal or financial representatives. No intermediaries, facilitators, or unrelated third parties may attend.
The PEP compliance videoconference takes place after the submission of preliminary KYC documentation but prior to any account approval or onboarding. It constitutes a compulsory enhanced due diligence measure required under international regulatory standards. The purpose of this session is to allow IFB Bank’s compliance officers to:
- verify the identity of the PEP through direct interaction
- confirm the PEP’s current and past political functions or affiliations
- assess the legal source and origin of the funds to be deposited or managed
- understand the intended nature, scope, and beneficiaries of the banking relationship
- evaluate any reputational or legal exposure associated with the PEP’s profile
- determine whether enhanced compliance monitoring and internal escalation are warranted
No account may be opened, and no financial relationship formalised, until this videoconference is completed to the full satisfaction of IFB Bank’s compliance department and formal internal authorisation is issued.
Procedure
Kindly schedule and thereafter complete the questionnaire before proceeding to book your meeting.
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Regulatory Recording Disclaimer
For the avoidance of doubt, IFB Bank hereby notifies all participants that all Zoom videoconferences organised, hosted, or attended by IFB Bank are recorded in whole and in part for regulatory, statutory, compliance, supervisory, audit, risk management, and evidentiary purposes. By accessing, joining, or otherwise participating in any such videoconference, each participant expressly acknowledges, accepts, and irrevocably consents to the audio-visual recording, processing, retention, storage, review, and, where required, disclosure of such recordings to competent supervisory, regulatory, judicial, or other legally entitled authorities, in accordance with applicable laws, regulations, and internal governance frameworks.
Where a participant does not agree to such recording, that participant is not authorised to attend, access, or otherwise participate in the videoconference and must immediately disconnect.
