COMPLIANCE OFFICERS: MONITOR YOUR DOMESTIC PEPS CLOSELY

Terence Pinder's SUV

While we always focus upon Politically Exposed Persons (PEPs) from foreign countries, domestic PEPs also pose a threat. Terence Pinder was a Commissioner in one of Miami's municipalities, and he reportedly intentionally drove his city-owned vehicle, at over one hundred miles an hour, into a tree, in what authorities have now classified a suicide.

Commissioner Pinder was slated to surrender, the next day, in a corruption charge that would have not only effectively ended his political career, it would have meant prison time, as Pinder was, amazingly, a repeat offender. He had previously been convicted of corruption, but an artful lawyer had obtained a reduction in the charges, to a paid of misdemeanors, meaning not only Probation (no jail time) bu nio felony conviction barring him from running again.

After serving his probationary period, Pinder was returned to office, showing that voters allow themselves to continue to be exploited. This time, he was caught on tape, demanding bribes and kickbacks, in an extremely arrogant manner, such that any jury would be incensed at his conduct, and most likely swiftly see that justice was done.

This case demonstrates the following:

(1) Domestic PEPs can be just as dangerous as those from overseas. Access the level of corruption at your PEP's agency, by examining recent events.
(2) Your PEP bank client may have large skeletons in his closet; Please check his background thoroughly before accepting him as a customer.
(3) Monitor the account, and media coverage, of all domestic PEPs, who are bank customers. You will want to close it, and spare yourself negative publicity, early on, if your client is accused of corruption. Unfortunately, even on the local level, corruption of government officials is more widespread than you think.