Refinitiv will delete profiles of children listed as relatives of politically exposed persons after a lawsuit, highlighting tensions between money laundering databases, data protection laws, and risks of unfair debanking.
Two of the children, one aged eight and the other aged 17, sued Refinitiv, owned by the London Stock Exchange Group, after they were designated on its World-Check database as relatives of “politically exposed persons” who were involved in politics in Serbia. The PEPs regime is intended to apply greater scrutiny to individuals seen as at higher risk of corruption, which could include politicians and their relatives. Refinitiv had indicated it would defend the lawsuit, saying both children were the grandchildren of Bogoljub Karić and Milanka Karić, and one was the grandchild of Momir Stojilković, all of whom had prominent roles in Serbian politics.
https://www.ft.com/content/41b57166-e631-4587-962d-18a031a6b997?syn-25a6b1a6=1
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