Why Trump's Family and Friends Are in for Heavy Financial Scrutiny

[Jacob Boehme]

Source: Fiscal Times. http://www.thefiscaltimes.com/2017/01/23/Why-Trumps-PEP-Family-and-Friends-Are-Heavy-Financial-Scrutiny

(My comment: This has RICO investigations written all over it.)

Excerpts: As of Friday, the entire Trump family became what is known in international financial and law enforcement circles as “politically exposed persons,” or PEPs. That means that all of their interactions with financial institutions, whether in the United States or in many countries overseas, will automatically become subject to an extra layer of scrutiny in order to protect against proceeds of bribery and official corruption.

In addition, the designation could extend to senior executives in the Trump organization who, because of Trump’s refusal to divest himself of ownership in the company, are now effectively employed by the president of the United States. It would also touch on business partners and other people closely associated with the new president.

The working definition of who falls into the category and who does not is articulated in Article 52 of the United Nations Convention Against Corruption, which asks signatories to require financial institutions under their authority “to conduct enhanced scrutiny of accounts sought or maintained by or on behalf of individuals who are, or have been, entrusted with prominent public functions and their family members and close associates.”

[enough]

1. No wonder they want to exit the UN. NT