A Politically Exposed Person, or PEP, is primarily an individual who is or who has been entrusted with prominent public functions. Please be aware that relatives and close associates of people holding such functions may also be considered a PEP.
Here are some examples of roles that are considered PEPs:
heads of State, heads of government, ministers, and deputy or assistant ministers;
members of parliament or of similar legislative bodies;
members of the governing bodies of political parties;
members of supreme courts, constitutional courts, or other high-level judicial bodies, the decisions of which are not subject to further appeal, except in exceptional circumstances;
auditor general or a member of the supervisory board or executive board of a central bank;
the Chancellor of Justice;
ambassadors, envoys, chargés d'affaires, and high-ranking officers in the armed forces;
members of the administrative, management, or supervisory bodies of State-owned enterprises.
What if I am a PEP?
If you are considered a PEP and you want to sign-up with Single.Earth we will ask you a couple of extra questions during our onboarding process but we try to make it as seamless as possible.
If you still have any questions about being a PEP and signing up with Single.Earth you may get in touch with our support team.
Why do I need to disclose this information?
As Single.Earth is regulated through different entities, such as the Estonian Financial Intelligence Unit we need to be aware if our clients are PEPs or not. It is important to note being a PEP does not necessarily entail a negative result, but it does mean an additional risk in Anti-Money Laundering (AML) terms.