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Who can be classified as Politically Exposed Persons (PEPs)?

  • Politically Exposed Persons are individuals who are or have been entrusted with prominent public functions in a foreign country.

    Examples of PEPs include, but not limited to:

    (i) Heads of States or of Governments

    (ii) Senior politicians

    (iii) Senior government / judicial / military officers

    (iv) Senior executives of state-owned corporations

    (v) Important political party officials

    (vi) Senior Indian Diplomatic personnel posted outside the country

  • The term PEP also includes the families and close associates of the PEPs mentioned above. Families: The term families includes close family members such as spouses, children, parents and siblings and may also include other blood relatives and relatives by marriage. Close associates: The term closely associated persons in the context of PEPs includes close business colleagues and personal advisors / consultants to the PEP as well as persons who obviously benefit significantly from being close to such a person.
  • PEPs also include persons who are not currently falling under the above criteria but were doing so at any given point in time within the last one year.