Politically exposed persons can pose severe risks to businesses. Learn more about PEPs & how to mitigate the reputational & transactional risks they present.
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Politically exposed persons (PEPs) are individuals whose prominent position in public life may make them vulnerable to corruption. The definition extends to immediate family members and known close associates.
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This review sets out our findings on how effectively firms are following our current Guidance on the treatment of politically exposed persons (PEPs) for anti money-laundering purposes. The review aims to: consider if our current Guidance remains appropriate. outline initial changes we propose to make. Read the review (PDF) Who this applies to.
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A politically exposed person (PEP) is someone who has been appointed by a community institution, an international body or a state (including the UK) to a high-profile position within the last 12 months.
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A politically exposed person (PEP) is an individual who is or has been entrusted with a prominent function. Many PEPs hold positions that can be abused for the purpose of laundering illicit funds or other predicate offences such as corruption or bribery.
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In basic terms, a Politically Exposed Person is someone who, through their prominent position or influence, is more susceptible to being involved in bribery or corruption.
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A politically exposed person (PEP) is defined by the Financial Action Task Force (FATF) as an individual who is or has been entrusted with a prominent public function. Due to their position and
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In basic terms, a Politically Exposed Person is someone who, through their prominent position or influence, is more susceptible to being involved in bribery or corruption.
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A politically exposed person (PEP) is an individual with a high profile political role, or someone who has been entrusted with a prominent public function. These individuals present a higher risk of involvement in money laundering and/or terrorist financing because of the position they hold.
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