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People also ask
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Which 3 of these would be politically exposed persons in PEPs?
Examples of PEPs include heads of state, government ministers or equivalent politicians, senior government executives, high-ranking judges, high-ranking military officers, central bank governors, or board members or executives of an international organisation.
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What is a level 3 PEP?
PEPs can be broadly classified into four levels: Level 1: Prominent figures representing an international body. Level 2: Individuals holding a position at the national level. Level 3: officials holding a position at the state level. Level 4: civil servants holding a position at the local level.
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What is a politically exposed person PEP?
In financial regulation, a politically exposed person (PEP) is one who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence they may hold.
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What are different types of PEP?
The 6 Types of Politically Exposed Persons Domestic PEPs. Domestic PEPs are individuals who hold prominent public positions within their own country. ... Foreign PEPs. ... International PEPs. ... Family Members of PEPs. ... Close Associates of PEPs. ... National PEPs.
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Who are to be considered as related close associate to a politically exposed person (PEP)?
Close Associates of a PEP 4.6 An individual who is closely connected to a PEP may include the PEP's business partners or associates, extended family members, close friends and financially dependent individuals.
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What is a politically exposed person declaration?
In financial regulation, a politically exposed person (PEP) is one who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence they may hold.
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