What is a Politically Exposed Person?

Who is considered to be a PEP?

A Politically Exposed Person is one that holds any of the following positions in any country in the world, including the UK:

• Heads of state, heads of government, ministers and deputy or assistant ministers
• Members of Parliament or similar bodies
• Members of the governing bodies of political parties
• Members of supreme and constitutional courts and other high level judicial bodies
• Members of courts of auditors or boards of central banks
• Ambassadors, and high-ranking officers in the armed forces
• Members of the administrative, management or supervisor bodies of state-owned enterprises
• Directors, Deputy Directors and members of the board, or equivalent, of an international organisation
• A close relative of a person holding one of these positions is also a PEP. A close relative includes family members such as spouses, partners, children (of the person and their spouse or partner) and parents.

An associate of a person holding one of these positions is also a PEP. An associate is seen as:

• Someone that has joint legal ownership with the PEP of a legal entity
• Someone that has another close business relationship with the PEP
• Someone that solely owns a property or legal entity, but the PEP has a beneficial interest in it