A Politically Exposed Person (PEP) is someone who holds a prominent political position or has close ties to such individuals. This includes:
- Government officials (e.g., ministers, MPs, judges, senior bureaucrats)
- High-ranking military or police officers
- Senior executives of state-owned enterprises
- Relatives or close associates of PEPs
Due to regulatory and compliance requirements, PEPs are considered high-risk customers for financial transactions, as they are more susceptible to corruption or money laundering risks. Because of this:
-
Online KYC processes may not be sufficient for risk assessment.
-
Additional due diligence and approvals are required.
-
Manual verification through physical document submission and in-person verification is often necessary.
If you need assistance, please contact our support team at support@equiruswealth.com
A Politically Exposed Person (PEP) is someone who holds a prominent political position or has close ties to such individuals. This includes:
- Government officials (e.g., ministers, MPs, judges, senior bureaucrats)
- High-ranking military or police officers
- Senior executives of state-owned enterprises
- Relatives or close associates of PEPs
Due to regulatory and compliance requirements, PEPs are considered high-risk customers for financial transactions, as they are more susceptible to corruption or money laundering risks. Because of this:
-
Online KYC processes may not be sufficient for risk assessment.
-
Additional due diligence and approvals are required.
-
Manual verification through physical document submission and in-person verification is often necessary.
If you need assistance, please contact our support team at support@equiruswealth.com
