What is a political exposed person (PEP)?

A Politically Exposed Person (PEP) is a natural person who is or has been entrusted with prominent public function:

  1. Heads of State, heads of government, ministers, and deputy or assistant ministers;
  2. Members of parliament or of similar legislative bodies;
  3. Members of the governing bodies of political parties;
  4. Members of supreme courts, of constitutional courts or of other high-level judicial bodies, the decisions of which are not subject to further appeal, except in exceptional circumstances;
  5. Members of courts of auditors or of the boards of central banks;
  6. Ambassadors, chargés d'affaires and high-ranking officers in the armed forces;
  7. Members of the administrative, management, or supervisory bodies of State-owned enterprises;
  8. Directors, deputy directors, and members of the board or the equivalent function of an international organisation;
  9. Mayors.

Immediate family members:

  1. The spouse or the person who they cohabit with for at least one year,
  2. The children and their spouses, or the persons who they cohabit with for at least one year,
  3. The parents.

Persons known to be close associates of PEP:

  1. Any natural person who is known to have joint beneficial ownership of legal entities or legal arrangements, or any other close business relations with PEP.
  2. Any natural person who has sole beneficial ownership of a legal entity or legal arrangement, which is known to have been set up for the de facto benefit of the PEP.

Where a person has ceased to be entrusted with a prominent public function for a period of at least one year, such person shall not be considered as politically exposed.