The correct answer is: A. at the first point of customer interaction.
Banks are required to carry out due diligence on all new customers, including checking for Politically Exposed Persons (PEPs). PEPs are individuals who hold high-level positions in government, political parties, or other public organizations. They are at a higher risk of being involved in money laundering or other financial crimes.
Banks should carry out PEP checks at the first point of customer interaction, which is usually when the customer opens a new account. This will help to identify PEPs early on and prevent them from using the bank’s services for illegal purposes.
Option B is incorrect because account services staff may not be able to identify PEPs. They may not have the necessary training or experience to do so.
Option C is incorrect because the central account services level may not be able to identify PEPs early on. They may not be able to access the customer’s information as quickly as the staff at the first point of customer interaction.
Option D is incorrect because banks are required to carry out PEP checks at the first point of customer interaction, not one month after the account is opened.