PEP

Politically Exposed Person.

This is an aspect of 'know your customer' principles, requiring financial intermediaries and others engaged in financial transactions to rigorously check their customers’ identities.

For example, a 'politically exposed person' could be a government official or other official, particularly if working for a known corrupt jurisdiction.

See also

• Dodd-Frank
• EMIR
• FATCA
• Know-your-customer
• KY3P
• MiFID
• Money laundering

Other resource

Squeaky Clean, The Treasurer, 2015 student article on anti money laundering implications for corporate treasurers.