Political Exposed People
Overview​
Query on the list of Politically Exposed Persons, made available official institutions or national financial intelligence units responsible for financial crime.
Availability​
Political Exposed People is currently available in:
Benefits​
Increased Risk of Corruption​
PEPs, by virtue of their political influence, may have greater access to government resources and funds, making them more susceptible to corrupt activities. IDV processes aim to flag and monitor their transactions for suspicious behavior.
Enhanced Risk of Money Laundering​
PEPs may use their influence to conceal illicit wealth through money laundering. By identifying individuals as PEPs, financial institutions and other businesses can impose stricter checks to prevent the flow of illegally gained money.
Global Regulatory Standards​
Global anti-money laundering (AML) and counter-terrorism financing (CTF) regulations (such as the FATF's recommendations) require enhanced due diligence on PEPs. Institutions must identify and closely monitor PEPs to comply with these regulations.