Jim O'Callaghan (Dublin Bay South, Fianna Fail) | Oireachtas source

It is interesting that it obviously operates across the board, it is not just somebody persecuting politicians.

On the obligations of the financial institution in respect of a PEP, they are set out in Article 20-24, I think, of the fourth directive, which may be amended. In effect, they have to have procedures in place so they can identify a PEP, is that correct? Then, they have to have what they refer to as "enhanced ongoing monitoring of their business relationships".

What is the purpose here? Is it to try to see whether there is something suspicious in the financial arrangements of a PEP?