Politically Exposed Person PEPs are “individuals who are, or have been, entrusted with prominent public functions and their family members and close associates, and includes both domestic and foreign PEPs”.
PEPs can hold a position in either a government or other large organizations and institutions.
Please find a list of examples below:
No public function referred to in points (1) to (8) shall be understood as covering middle-ranking or more junior officials
Relative to a Politically Exposed Person (PEP)
Related party to a politically exposed person/family members: A politically exposed person's spouse, registered partner, sexual partner, cohabitant or parents as well as children and their spouses, registered partners or cohabitants.
Close partner/associate to a politically exposed person:
At Transfi, we are legally obliged to establish whether you, as a user, might have any political connection. Consequently, if you are a PEP or an immediate family member who is a PEP, we will simply ask you to do an additional source of funds check which is part of the standard procedures on handling PEPs.