Who is a PEP?

PEP (Person in Politically Exposed Position)

A PEP is a person in a politically vulnerable position who has or has had important public functions in a state or in an international organization. A PEP is considered to hold a position through his position and influence which poses a risk of being used for, among other things, bribery. A person is considered politically exposed for at least 18 months after having fulfilled his position or function.

Who is a PEP?

-The Head of State, Members of Parliament, the Prime Minister.

-Members of the board of political parties represented in the national Parliament or the EU Parliament.

-Judge in the Supreme Court and the Supreme Administrative Court.

-The Auditors-General or the National Banks Executive Board.

-Ambassadors, high officers (general, lieutenant general,

major general, admiral, vice admiral and rear admiral).

-CEO or board member in state-owned companies.

-People in management in an international organization

(board members, general secretary etc.).

Relatives and Close Associates (or RCAs) are people with strong familial, social, or professional ties to individuals who are a PEP.

Who is an RCA?

-Spouse, registered partner or cohabitant.

-Parents.

Children and their spouses, registered partners or cohabitants.

Siblings are not covered.

-A person who jointly with a PEP owns or otherwise has

controlling influence over a company.

-A person who otherwise has or has had a close relationship with

a PEP – it does not have to be a business relationship.

-A person who alone owns or exercises influence over a company

which has been formed for the benefit of a PEP.