What Is a Politically Exposed Person (PEP)? Who Is Considered a PEP?

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A Politically Exposed Person (PEP) is an individual who holds, or has held, a prominent public position and therefore may be exposed to a higher risk of bribery, corruption, money laundering, or misuse of public funds. The concept is widely recognized in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations.

 

Importantly, being identified as a PEP does not mean the person is involved in any wrongdoing. It simply means that additional due diligence may be required because of the influence and authority associated with their position.

 

Who is Considered a PEP?

 

Examples of individuals typically classified as PEPs include:

• Senior Politician/MP/MLA/MINISTER, etc.
• Celebrities/Famous film stars/Sports Persons/Public Personalities
• Senior Magistrate/Judge,
• Senior-ranked police officer/military officer
• MD/CEO/Chairman of any Public Corporations/Established Organizations,
• Senior Executives of Govt. Organizations
• Senior Officials in Financial Institutions (e.g., IFCI)
• Senior Executive in Press & Media,
• Religious leaders,
• Leaders of International Organizations
• Close relative/associates of any of the above

 

What to do if you recognize yourself as PEP ?

 

To add PEP information, contact Branch or Customer care.