A Politically Exposed Person (PEP) is defined as:
• Prominent PEPs: Individuals who are or have been entrusted with prominent
public functions either domestically or by a foreign country. These are individuals
with power and authority that can influence political decision making and/or have
access to government funds.
Examples include:
Ø Heads of State or of government (e.g., President, Prime Minister)
Ø Senior politicians & senior government (e.g., Vice President, Deputy Prime
Minister, Ministers, Parliamentary members)
Ø Judicial or Military officials
Ø State-owned corporations & Senior executives of state-owned corporations
Ø Important political party officials
• International organisation PEPs: International organisations are entities
established by formal political agreements between members countries that have
the status of international treaties; their existence is recognised by law in their
member countries; they are not treated as resident institutional units of the
countries in which they are located. International organisation PEPs refer to
persons who are or have been entrusted with a prominent function by an
international organisation such as members of senior management or individuals
who have been entrusted with equivalent functions (i.e., directors, deputy directors
and members of the board or equivalent functions).
Examples of international organisation include:
Ø The United Nations and affiliated agencies (e.g., International Maritime
Organisation, International Monetary Fund)
Ø Regional international organisations (e.g., Asian Development Bank,
Association of Southeast Asia Nations Secretariat)
Ø Institutions of European Union (e.g., Organisation for Security and Cooperation
in Europe)
Ø Military international organisations (e.g., North Atlantic Treaty Organisation)
Ø Economic organisations (e.g., World Trade Organisation, Asia-Pacific
Economic Cooperation Secretariat)
• Family members: Individuals who are related to a PEP either directly
(consanguinity) or through marriage or similar (civil) forms of partnership.
• Close associates: Individuals who are closely connected to a PEP, either socially
or professionally.
4. What is a Politically Exposed Person (PEP)？
