How should the request be processed to mitigate risk?

A foreign politically exposed person (PEP) requests to add a beneficiary to a file insurance policy.

How should the request be processed to mitigate risk?
A . Perform due diligence on the beneficiary
B. Determine the source of wealth and source of funds
C. Decline the request if the beneficiary is a foreign PEP
D. Decline the request to add a beneficiary due to increased risk

View Answer

Answer: A