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Home » Glossary Terms » Politically Exposed Person (PEP)

Politically Exposed Person (PEP)

An individual who holds senior public office or other prominent function, or who has a close association with such a person. By virtue of their position PEPs are arguably more susceptible to bribery, corruption and the misuse of state funds and therefore pose a higher risk of money laundering. As a result, additional obligations (such as enhanced due diligence) typically apply when a firm has dealings with a PEP.

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