Political Details
A politically exposed person (PEP) is an individual who is or who has been entrusted with prominent public functions domestically or by a foreign country.
Means someone who possess any one of the following characteristics:
- current or former senior official in the executive, legislative, administrative, military, or judicial branch of a foreign government (elected or not) or a senior official of a major foreign political party;
- a senior executive of a foreign government owned commercial enterprise, being a corporation, business or other entity formed by or for the benefit of any such individual;
- an immediate family member of such individual; meaning spouse, parents, siblings, children, and spouse’s parents or siblings; or
- any known close personal or professional associate of any of the above.
Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country, for example Heads of State or of government, senior politicians, senior government, judicial or military officials, senior executives of state-owned corporations, important political party officials.
Domestic PEPs are individuals who are or have been entrusted domestically with prominent public functions, for example Heads of State or of government, senior politicians, senior government, judicial or military officials, senior executives of state-owned corporations, important political party officials.
Persons who are or have been entrusted with a prominent function by an international organization refers to members of senior management, i.e. directors, deputy directors and members of the board or equivalent functions.
The definition of PEPs is not intended to cover middle ranking or more junior individuals in the foregoing categories.