Guidance Note on Prominent Influential Persons (“PIPS”)

This document serves to avail guidance on identification considerations pertaining to Prominent Influential Persons (“PIPs”), as per Section 44 (1)(b) of the Financial Intelligence Act, 2019(“FI Act”).  

Due to their position and influence, it is recognized that many PIPs are in positions that potentially can be abused for the purpose of committing Money Laundering (“ML”) offences and related predicate offences, as well as conducting activities related to Terrorism Financing (“TF”) and Proliferation Financing (“PF”).