What Is PEP (Politically Exposed Person)?
PEPs, or Politically Exposed Persons, are individuals who are involved in politics or hold high office in governments.
If your business is subject to Anti-Money Laundering (AML) laws and regulations, it’s important that you can determine whether you’re involved with PEPs as they are often come with a higher risk of money laundering and financing of terrorism.
On this page we try to answer:
- What is a PEP (Politically Exposed Person)?
- How does a PEP list work?
- What do you need to do as a business if you have a client who is a PEP?
- How the NewBanking Identity platform can help you check your clients identity and do PEP screenings.