Documentation Index
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Definition
A PEP refers to an individual who holds or has held a prominent public position or a position of influence, making them more susceptible to involvement in corruption or illicit activities.
Who Qualifies as a PEP
The category encompasses high-ranking government officials, politicians, senior executives of state-owned enterprises, and individuals with close associations to such positions.
Regulatory Importance
Enhanced due diligence measures are applied to prevent corruption, money laundering and other financial crimes when dealing with PEPs.