What does PEP stand for?
PEP stands for Politically Exposed Persons.
What Is the Meaning of PEP?
Stands for a politically exposed person as a short form it's known as PEP. A pep is a high-risk person because there influence the public and a client where have many opportunities to gain or earn assets through illegal activities like money laundering and bribe as well.A politically Exposed Person is defined by the financial action task force as an individual who is or has been entrusted with a prominent public function.
Who can be PEP?
- FOllowing bodies can be pep which is as under below.
- Government official's executive bodies can be a pep.
- judiciary bodies are also can be pep.
- Senior political parties
- Close family members which are close to a pep.
How many types of PEP?
There are four types of risk in pep which are mentioned below.- PEP High risk
- PEP Medium-High risk
- PEP medium risk
- PEP Low risk
PEP High risk:
- Prominent Member of the parliament
- Senior or head of the military
- A person Related to law enforcement
- Head of the Government
- Senators
PEP Medium-High risk:
- A senior officer of the military
- Civil service officer he or she should be high ranked
- Commissioners also are on the list of medium risk
- Senior position individuals
PEP medium risk:
- Board of directors
- Belong to senior Management
- Banks
PEP Low risk:
- District level Assembly members
- International bodies
- Mayors and members of local state.
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