Politically exposed person

A Politically Exposed Person (PEP) is someone who holds or has held a powerful position in a government or public international organization (like the UN or World Bank). Examples of people who are PEPs are elected officials, judges, ambassadors, and senior military officers. PEPs may also include their families and close associates. Banks, financial services companies and other organizations may need to monitor the activities of PEPs to make sure they are not involved with any illegal activities.