E63: De-banking: What is a PEP, anyway?

The Laundry

If you’ve picked up a British newspaper, switched on the TV, logged on to social media, or attended a political party conference – there is one word you will have come across again and again….

De-Banked!

British politicians and media figures are in uproar about bank accounts being shut down or applications being rejected - reportedly due to political connections and beliefs.

The term ‘politically exposed persons’ – previously only known to compliance nerds – has suddenly become a mainstream talking point.

In this week's episode – our host, Marit Rødevand, is joined by Phil Coole, MRLO and Head of Compliance at OakNorth Bank, and James Nurse, Managing Director at Fintrail.

The panel discuss: what is a politically exposed person in 2023, whether political views matter, and the real world consequences of not getting this right.

Producer: Matthew Dunne-Miles

Engineers: Dominic Delargy, Andrea Busco

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The Laundry podcast: Dive deep into the intricacies of financial crime, AML (anti-money laundering), compliance, sanctions, and the ever-evolving landscape of financial regulation.

Hosted by Marit Rødevand and Fredrik Riiser – this podcast features renowned experts from sectors such as banking, fintech, compliance, and investigative journalism.

Together, they shed light on the industry's trending topics, analyse mainstream news through a compliance-focused lens, and connect the fight against financial crime to its real-world consequences and ramifications.

The Laundry is proudly produced by Strise, an AML intelligence system.

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